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File: D:/hMailServer/Data/showfile.com/admin/AA/{AA2DD24D-34C6-4402-9F2F-0A5FFB94B414}.eml
Message-ID: <4E.B3.24688.08738B96@i-03863fe85411e7df7.mta3vrest.sd.prd.sparkpost>
Subject: Margin trading 101: intro to leveraging
From: "Bitpanda" <no-reply@newsletter.bitpanda.com>
To: vince@showfile.com
Date: Mon, 16 Mar 2026 17:01:52 +0000
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firm reference number FRN 925234.=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=
=0A=0A=0ADon=E2=80=99t invest unless you=E2=80=99re prepared to lose all th=
e money you invest. This is a high-risk investment and you should not expec=
t to be protected if something goes wrong. <a href=3D"https://clicks.bitpan=
da.com/f/a/Kb9BF3r_VZT1z7w6L0FhuA~~/AAAHahA~/p_ZzPLpRsOiUk41pKZMEMn_bHTKcff=
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to learn more.</a>=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0ATerms and co=
nditions apply (=0A ).=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=0A=
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ingdom=0A=C2=A9 2026 Bitpanda GmbH. All rights=0Areserved. 
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=BB=BF </div>=0A<!--[if !mso]><!--><!--<![endif]--><div style=3D"background=
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color:transparent;line-height:0;font-size:0;direction:ltr;">=0A<!--[if mso =
| IE]><table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspaci=
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entation" style=3D"border-radius:0px;vertical-align:top;" width=3D"100%">=
=0A<tr><td style=3D"font-size:0px;word-break:break-word;"><table border=3D"=
0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"font-=
family:Ubuntu, Helvetica, Arial, sans-serif;font-size:13px;line-height:1;wi=
dth:100%;"><tr><td style=3D"vertical-align:top;"><!--  --></td></tr></table=
></td></tr>=0A<tr><td class=3D"padding-16px-48px-16px-48px text-container" =
style=3D"font-size:0px;padding:16px 16px 16px 16px;word-break:break-word;ms=
o-padding-alt:16px 48px 16px 48px;text-align:center;"><div class=3D"links-2=
82828-underline"><div style=3D"font-family:'Inter', Segoe UI, Roboto, Helve=
tica, Arial, sans-serif;font-size:11px;font-weight:normal;letter-spacing:no=
ne;line-height:1.2;text-align:center;mso-line-height-alt:0.875em;color:#282=
828;" class=3D"mso-font-size-12px font-size-12px"><p style=3D"margin: 0;">D=
on=E2=80=99t invest unless you=E2=80=99re prepared to lose all the money yo=
u invest. This is a high-risk investment and you should not expect to be pr=
otected if something goes wrong. <a href=3D"https://clicks.bitpanda.com/f/a=
/9cCfU-sYpzODZmxxdr6hDA~~/AAAHahA~/CiyKMwB0YJk6gvevJBYV4lJKjW6BsA5PgzjLi-N_=
5KbFy_ZYF27NQVbS0wKegHOzRiGov_SJhuS6eFKDJLj6yTIYVIpb1-3slvsgVQ4DKcS6uQet_8d=
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ine;">Take 2 mins to learn more</a>.</p></div></div></td></tr>=0A<tr><td st=
yle=3D"font-size:0px;word-break:break-word;"><table border=3D"0" cellpaddin=
g=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"font-family:Ubuntu=
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=3D"vertical-align:top;width:600px;" ><![endif]--><div class=3D"mj-column-p=
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n:0 auto;"><a href=3D"https://clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSb=
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"0" role=3D"presentation" style=3D"border-radius:0px;vertical-align:top;" w=
idth=3D"100%"><tr><td class=3D"padding-24px-48px-24px-48px text-container" =
style=3D"font-size:0px;padding:16px 16px 16px 16px;word-break:break-word;ms=
o-padding-alt:24px 48px 24px 48px;text-align:center;"><div class=3D"links-1=
6764D"><div style=3D"font-family:'Bitpanda Compressed', Impact, Helvetica, =
Arial, sans-serif;font-size:34px;font-weight:700;letter-spacing:none;line-h=
eight:0.90;text-align:center;mso-line-height-alt:1.938em;color:#282828;"><p=
 style=3D"margin: 0 0 0px 0;">THE BASICS OF MARGIN TRADING=0A</p></div></di=
v></td></tr></table></div>=0A<!--[if mso | IE]></td></tr></table><![endif]-=
->=0A</td></tr></table></td></tr></table></div>=0A<!--[if mso | IE]></td></=
tr></table><![endif]-->=0A</div></td></tr></table>=0A<table align=3D"center=
" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" st=
yle=3D"width:100%;" class=3D"section"><tr><td align=3D"center"><div role=3D=
"none">=0A<!--[if mso | IE]><table align=3D"center" border=3D"0" cellpaddin=
g=3D"0" cellspacing=3D"0" class=3D"block-grid-outlook" style=3D"width:600px=
;" width=3D"600" ><tr><td style=3D"line-height:0px;font-size:0px;mso-line-h=
eight-rule:exactly;"><![endif]--><div style=3D"margin:0 auto;max-width:600p=
x;"><table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0=
" role=3D"presentation" style=3D"width:100%;"><tr><td style=3D"font-size:0p=
x;padding:0px 0px 0px 0px;text-align:center;vertical-align:top;mso-padding-=
alt:0px 0px 0px 0px;" class=3D"block-grid"><table align=3D"center" border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"1=
00%"><tr><td style=3D"line-height:0;font-size:0;direction:ltr;">=0A<!--[if =
mso | IE]><table role=3D"presentation" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0"><tr><td style=3D"vertical-align:top;width:600px;" ><![endif]--=
><div class=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0=
px;text-align:left;direction:ltr;display:inline-block;vertical-align:top;wi=
dth:100%;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"=
presentation" style=3D"border-radius:0px;vertical-align:top;" width=3D"100%=
"><tr><td class=3D"padding-0px-48px-24px-48px text-container" style=3D"font=
-size:0px;padding:0px 16px 24px 16px;word-break:break-word;mso-padding-alt:=
0px 48px 24px 48px;text-align:center;"><div class=3D"links-16764D"><div sty=
le=3D"font-family:'Inter', Segoe UI, Roboto, Helvetica, Arial, sans-serif;f=
ont-size:16px;font-weight:normal;letter-spacing:none;line-height:1.60;text-=
align:center;mso-line-height-alt:1.813em;color:#282828;" class=3D"mso-font-=
size-18px font-size-18px"><p style=3D"margin: 0 0 0px 0;">Margin trading is=
 a well known strategy in investing that lets customers expand their buying=
 potential by borrowing more than their capital allows them to open larger =
positions from the offset. <br><br>With margin trading, the trader deposits=
 a portion of their own capital as collateral into a special margin positio=
n. The margin serves the broker as security for the borrowed funds.</p></di=
v></div></td></tr></table></div>=0A<!--[if mso | IE]></td></tr></table><![e=
ndif]-->=0A</td></tr></table></td></tr></table></div>=0A<!--[if mso | IE]><=
/td></tr></table><![endif]-->=0A</div></td></tr></table>=0A<table align=3D"=
center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentati=
on" style=3D"width:100%;" class=3D"section"><tr><td align=3D"center"><div r=
ole=3D"none">=0A<!--[if mso | IE]><table align=3D"center" border=3D"0" cell=
padding=3D"0" cellspacing=3D"0" class=3D"block-grid-outlook" style=3D"width=
:600px;" width=3D"600" ><tr><td style=3D"line-height:0px;font-size:0px;mso-=
line-height-rule:exactly;"><![endif]--><div style=3D"margin:0 auto;max-widt=
h:600px;"><table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"width:100%;"><tr><td style=3D"font-s=
ize:0px;padding:0px 0px 24px 0px;text-align:center;vertical-align:top;mso-p=
adding-alt:0px 0px 24px 0px;" class=3D"block-grid"><table align=3D"center" =
border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" widt=
h=3D"100%"><tr><td style=3D"line-height:0;font-size:0;direction:ltr;">=0A<!=
--[if mso | IE]><table role=3D"presentation" border=3D"0" cellpadding=3D"0"=
 cellspacing=3D"0"><tr><td style=3D"vertical-align:top;width:600px;" ><![en=
dif]--><div class=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-=
size:0px;text-align:left;direction:ltr;display:inline-block;vertical-align:=
top;width:100%;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" ro=
le=3D"presentation" style=3D"border-radius:0px;vertical-align:top;" width=
=3D"100%">=0A<tr><td valign=3D"middle" class=3D"hide-on-mobile button-conta=
iner" style=3D"display: none; font-size: 0px; padding: 0px 24px 0px 24px; w=
ord-break: break-word; text-align: center;" align=3D"center"><div>=0A<!--[i=
f mso]><table width=3D"100%" align=3D"center" border=3D"0" cellpadding=3D"0=
" cellspacing=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-=
table-lspace:0pt;mso-table-rspace:0pt;"><tr><td align=3D"center" class=3D"m=
so-button-dark-mode"><a:roundrect xmlns:a=3D"urn:schemas-microsoft-com:vml"=
 xmlns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://clicks.b=
itpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4=
CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI=
5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" fillcolor=3D"#103E36"=
 arcsize=3D"10%" style=3D"v-text-anchor:middle;width:117pt;height:30pt;" st=
rokecolor=3D"#103E36" strokeweight=3D"0.75pt" ><w:anchorlock/><a:textbox in=
set=3D"0,0,0,0"><center style=3D"color:#ffffff; font-family:sans-serif, Ari=
al; font-size:16px" class=3D"mso-text-white"><![endif]--> <a href=3D"https:=
//clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCM=
ws5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE=
9zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" style=3D"di=
splay: inline-block; background: #103E36; color: #FFFFFF; font-family: 'Int=
er', Segoe UI, Roboto, Helvetica, Arial, sans-serif; font-size: 15px; font-=
weight: 500; line-height: 1.2; margin: 0; text-align: center; text-decorati=
on: none; text-transform: none; padding: 10px 24px 10px 24px; mso-padding-a=
lt: 0px; border-radius: 4px; border-left: 1px solid #103E36; border-right: =
1px solid #103E36; border-top: 1px solid #103E36; border-bottom: 1px solid =
#103E36; mso-border-alt: none; box-sizing: border-box;" target=3D"_blank" w=
idth=3D"157">Explore here </a><!--[if mso]></center></a:textbox></a:roundre=
ct></td></tr></table><![endif]-->=0A</div></td></tr>=0A<!--[if !mso]><!--><=
tr><td valign=3D"middle" class=3D"hide-on-desktop button-container" style=
=3D"display: block; font-size: 0px; padding: 0px 16px 0px 16px; word-break:=
 break-word; text-align: center;" align=3D"center"><div>=0A<!--[if mso]><ta=
ble width=3D"100%" align=3D"center" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-lspa=
ce:0pt;mso-table-rspace:0pt;"><tr><td align=3D"center" class=3D"mso-button-=
dark-mode"><a:roundrect xmlns:a=3D"urn:schemas-microsoft-com:vml" xmlns:w=
=3D"urn:schemas-microsoft-com:office:word" href=3D"https://clicks.bitpanda.=
com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4CGFhnurE=
aW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI5a15Iu35=
utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" fillcolor=3D"#103E36" arcsize=
=3D"11%" style=3D"v-text-anchor:middle;width:411pt;height:28.5pt;" strokeco=
lor=3D"#103E36" strokeweight=3D"0.75pt" ><w:anchorlock/><a:textbox inset=3D=
"0,0,0,0"><center style=3D"color:#ffffff; font-family:sans-serif, Arial; fo=
nt-size:16px" class=3D"mso-text-white"><![endif]--> <a href=3D"https://clic=
ks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5WxQ=
eXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zFIrq=
NqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" style=3D"display:=
 table; width: 100%; background: #103E36; color: #FFFFFF; font-family: 'Int=
er', Segoe UI, Roboto, Helvetica, Arial, sans-serif; font-size: 15px; font-=
weight: 500; line-height: 1.2; margin: 0; text-align: center; text-decorati=
on: none; text-transform: none; padding: 0; mso-padding-alt: 0px; border-ra=
dius: 4px; border-left: 1px solid #103E36; border-right: 1px solid #103E36;=
 border-top: 1px solid #103E36; border-bottom: 1px solid #103E36; mso-borde=
r-alt: none; box-sizing: border-box;" target=3D"_blank" width=3D"550"><span=
 style=3D"display:table-cell;padding:10px 24px 10px 24px;">Explore here </s=
pan></a><!--[if mso]></center></a:textbox></a:roundrect></td></tr></table><=
![endif]-->=0A</div></td></tr>=0A<!--<![endif]-->=0A</table></div>=0A<!--[i=
f mso | IE]></td></tr></table><![endif]-->=0A</td></tr></table></td></tr></=
table></div>=0A<!--[if mso | IE]></td></tr></table><![endif]-->=0A</div></t=
d></tr></table>=0A<table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"width:100%;" class=3D"sectio=
n"><tr><td align=3D"center"><div role=3D"none">=0A<!--[if mso | IE]><table =
align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"=
block-grid-outlook" style=3D"width:600px;" width=3D"600" ><tr><td style=3D"=
line-height:0px;font-size:0px;mso-line-height-rule:exactly;"><![endif]--><d=
iv style=3D"margin:0 auto;border-radius:0px;max-width:600px;"><table align=
=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presen=
tation" style=3D"width:100%;border-radius:0px;"><tr><td style=3D"border-rad=
ius:0px;font-size:0px;padding:0px 0px 0px 0px;text-align:center;vertical-al=
ign:top;mso-padding-alt:0px 0px 0px 0px;" class=3D"block-grid"><table align=
=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presen=
tation" width=3D"100%"><tr><td style=3D"line-height:0;font-size:0;direction=
:ltr;border-top:1px solid #E0E0E0;border-radius:0px;">=0A<!--[if mso | IE]>=
<table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"=
0"><tr><td style=3D"vertical-align:top;width:600px;" ><![endif]--><div clas=
s=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0px;text-al=
ign:left;direction:ltr;display:inline-block;vertical-align:top;width:100%;"=
><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentati=
on" width=3D"100%"><tr><td style=3D"background-color:#FFFFFF;border-radius:=
0px;vertical-align:top;padding:16px 0px 16px 0px;mso-padding-alt:24px 0px 2=
4px 0px;" class=3D"padding-24px-0px-24px-0px"><table border=3D"0" cellpaddi=
ng=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"100%">=0A<tr><td =
class=3D"padding-0px-48px-24px-48px text-container" style=3D"font-size:0px;=
padding:0px 16px 16px 16px;word-break:break-word;mso-padding-alt:0px 48px 2=
4px 48px;text-align:center;"><div class=3D"links-16764D"><div style=3D"font=
-family:'Bitpanda Compressed', Impact, Helvetica, Arial, sans-serif;font-si=
ze:34px;font-weight:700;letter-spacing:none;line-height:0.90;text-align:cen=
ter;mso-line-height-alt:1.938em;color:#282828;"><p style=3D"margin: 0 0 0px=
 0;">THE OUTCOME</p></div></div></td></tr>=0A<tr><td class=3D"padding-0px-4=
8px-0px-48px text-container" style=3D"font-size:0px;padding:0px 16px 0px 16=
px;word-break:break-word;mso-padding-alt:0px 48px 0px 48px;text-align:cente=
r;"><div class=3D"links-16764D"><div style=3D"font-family:'Inter', Segoe UI=
, Roboto, Helvetica, Arial, sans-serif;font-size:16px;font-weight:normal;le=
tter-spacing:none;line-height:1.60;text-align:center;mso-line-height-alt:1.=
813em;color:#282828;" class=3D"mso-font-size-18px font-size-18px"><p style=
=3D"margin: 0 0 0px 0;"><b>It magnifies both your potential gains and losse=
s.</b>=0A<br><br>=0AEach asset displays its available leverage as a ratio, =
such as 2x or 3x. This ratio indicates the size of the position you can ope=
n relative to your invested capital.=0A<br><br>=0AFor example, with 3x leve=
rage, your =C2=A31,000 investment opens a =C2=A33,000 position. All profits=
 and losses are calculated on the full =C2=A33,000. A 10% price move up wou=
ld mean a =C2=A3300 profit, while a 10% move down would mean a =C2=A3300 lo=
ss. =0A</p></div></div></td></tr>=0A<tr><td style=3D"font-size:0px;word-bre=
ak:break-word;"><div style=3D"line-height:24px;height:24px;mso-line-height-=
alt:24px;">&nbsp;</div></td></tr>=0A<tr><td valign=3D"middle" class=3D"hide=
-on-mobile button-container" style=3D"display: none; font-size: 0px; paddin=
g: 0px 24px 0px 24px; word-break: break-word; text-align: center;" align=3D=
"center"><div>=0A<!--[if mso]><table width=3D"100%" align=3D"center" border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"border-spacing:0;border=
-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td alig=
n=3D"center" class=3D"mso-button-dark-mode"><a:roundrect xmlns:a=3D"urn:sch=
emas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" h=
ref=3D"https://clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3B=
EMkU8rehAfHCMws5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7=
g5cFl2zzmxGhE9zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~=
" fillcolor=3D"#103E36" arcsize=3D"10%" style=3D"v-text-anchor:middle;width=
:123.75pt;height:30pt;" strokecolor=3D"#103E36" strokeweight=3D"0.75pt" ><w=
:anchorlock/><a:textbox inset=3D"0,0,0,0"><center style=3D"color:#ffffff; f=
ont-family:sans-serif, Arial; font-size:16px" class=3D"mso-text-white"><![e=
ndif]--> <a href=3D"https://clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~=
~/AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsN=
jSjCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2F=
HfvJ24kYIiQ~~" style=3D"display: inline-block; background: #103E36; color: =
#FFFFFF; font-family: 'Inter', Segoe UI, Roboto, Helvetica, Arial, sans-ser=
if; font-size: 15px; font-weight: 500; line-height: 1.2; margin: 0; text-al=
ign: center; text-decoration: none; text-transform: none; padding: 10px 24p=
x 10px 24px; mso-padding-alt: 0px; border-radius: 4px; border-left: 1px sol=
id #103E36; border-right: 1px solid #103E36; border-top: 1px solid #103E36;=
 border-bottom: 1px solid #103E36; mso-border-alt: none; box-sizing: border=
-box;" target=3D"_blank" width=3D"166">To margin trading  </a><!--[if mso]>=
</center></a:textbox></a:roundrect></td></tr></table><![endif]-->=0A</div><=
/td></tr>=0A<!--[if !mso]><!--><tr><td valign=3D"middle" class=3D"hide-on-d=
esktop button-container" style=3D"display: block; font-size: 0px; padding: =
0px 24px 0px 24px; word-break: break-word; text-align: center;" align=3D"ce=
nter"><div>=0A<!--[if mso]><table width=3D"100%" align=3D"center" border=3D=
"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"border-spacing:0;border-co=
llapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;"><tr><td align=
=3D"center" class=3D"mso-button-dark-mode"><a:roundrect xmlns:a=3D"urn:sche=
mas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:office:word" hr=
ef=3D"https://clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BE=
MkU8rehAfHCMws5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g=
5cFl2zzmxGhE9zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~"=
 fillcolor=3D"#103E36" arcsize=3D"11%" style=3D"v-text-anchor:middle;width:=
411pt;height:28.5pt;" strokecolor=3D"#103E36" strokeweight=3D"0.75pt" ><w:a=
nchorlock/><a:textbox inset=3D"0,0,0,0"><center style=3D"color:#ffffff; fon=
t-family:sans-serif, Arial; font-size:16px" class=3D"mso-text-white"><![end=
if]--> <a href=3D"https://clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/=
AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjS=
jCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHf=
vJ24kYIiQ~~" style=3D"display: table; width: 100%; background: #103E36; col=
or: #FFFFFF; font-family: 'Inter', Segoe UI, Roboto, Helvetica, Arial, sans=
-serif; font-size: 15px; font-weight: 500; line-height: 1.2; margin: 0; tex=
t-align: center; text-decoration: none; text-transform: none; padding: 0; m=
so-padding-alt: 0px; border-radius: 4px; border-left: 1px solid #103E36; bo=
rder-right: 1px solid #103E36; border-top: 1px solid #103E36; border-bottom=
: 1px solid #103E36; mso-border-alt: none; box-sizing: border-box;" target=
=3D"_blank" width=3D"550"><span style=3D"display:table-cell;padding:10px 24=
px 10px 24px;">To margin trading  </span></a><!--[if mso]></center></a:text=
box></a:roundrect></td></tr></table><![endif]-->=0A</div></td></tr>=0A<!--<=
![endif]-->=0A</table></td></tr></table></div>=0A<!--[if mso | IE]></td></t=
r></table><![endif]-->=0A</td></tr></table></td></tr></table></div>=0A<!--[=
if mso | IE]></td></tr></table><![endif]-->=0A</div></td></tr></table>=0A<t=
able align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"width:100%;" class=3D"section"><tr><td align=3D"=
center"><div role=3D"none">=0A<!--[if mso | IE]><table align=3D"center" bor=
der=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"block-grid-outlook" =
style=3D"width:600px;" width=3D"600" ><tr><td style=3D"line-height:0px;font=
-size:0px;mso-line-height-rule:exactly;"><![endif]--><div style=3D"margin:0=
 auto;border-radius:0px;max-width:600px;"><table align=3D"center" border=3D=
"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"widt=
h:100%;border-radius:0px;"><tr><td style=3D"border-radius:0px;font-size:0px=
;padding:0px 0px 0px 0px;text-align:center;vertical-align:top;mso-padding-a=
lt:0px 0px 0px 0px;" class=3D"block-grid"><table align=3D"center" border=3D=
"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"100%=
"><tr><td style=3D"line-height:0;font-size:0;direction:ltr;border-top:1px s=
olid #E0E0E0;border-radius:0px;">=0A<!--[if mso | IE]><table role=3D"presen=
tation" border=3D"0" cellpadding=3D"0" cellspacing=3D"0"><tr><td style=3D"v=
ertical-align:top;width:600px;" ><![endif]--><div class=3D"mj-column-per-10=
0 mj-outlook-group-fix" style=3D"font-size:0px;text-align:left;direction:lt=
r;display:inline-block;vertical-align:top;width:100%;"><table border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"100%"><t=
r><td style=3D"background-color:#FFFFFF;border-radius:0px;vertical-align:to=
p;padding:16px 0px 16px 0px;mso-padding-alt:24px 0px 24px 0px;" class=3D"pa=
dding-24px-0px-24px-0px"><table border=3D"0" cellpadding=3D"0" cellspacing=
=3D"0" role=3D"presentation" width=3D"100%">=0A<tr><td class=3D"padding-0px=
-48px-24px-48px text-container" style=3D"font-size:0px;padding:0px 16px 16p=
x 16px;word-break:break-word;mso-padding-alt:0px 48px 24px 48px;text-align:=
center;"><div class=3D"links-16764D"><div style=3D"font-family:'Bitpanda Co=
mpressed', Impact, Helvetica, Arial, sans-serif;font-size:34px;font-weight:=
700;letter-spacing:none;line-height:0.90;text-align:center;mso-line-height-=
alt:1.938em;color:#282828;"><p style=3D"margin: 0 0 0px 0;">KEEPING ON TOP =
OF IT</p></div></div></td></tr>=0A<tr><td class=3D"padding-0px-48px-0px-48p=
x text-container" style=3D"font-size:0px;padding:0px 16px 0px 16px;word-bre=
ak:break-word;mso-padding-alt:0px 48px 0px 48px;text-align:center;"><div cl=
ass=3D"links-16764D"><div style=3D"font-family:'Inter', Segoe UI, Roboto, H=
elvetica, Arial, sans-serif;font-size:16px;font-weight:normal;letter-spacin=
g:none;line-height:1.60;text-align:center;mso-line-height-alt:1.813em;color=
:#282828;" class=3D"mso-font-size-18px font-size-18px"><p style=3D"margin: =
0 0 0px 0;">Potential for big gains, means the potential for big losses. Se=
tting up automatic profit and loss on your margin to close a position at po=
ints you=E2=80=99re comfortable with can help you limit potential losses an=
d secure profits.  </p></div></div></td></tr>=0A<tr><td style=3D"font-size:=
0px;word-break:break-word;"><div style=3D"line-height:24px;height:24px;mso-=
line-height-alt:24px;">&nbsp;</div></td></tr>=0A<tr><td valign=3D"middle" c=
lass=3D"hide-on-mobile button-container" style=3D"display: none; font-size:=
 0px; padding: 0px 24px 0px 24px; word-break: break-word; text-align: cente=
r;" align=3D"center"><div>=0A<!--[if mso]><table width=3D"100%" align=3D"ce=
nter" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" style=3D"border-spac=
ing:0;border-collapse:collapse;mso-table-lspace:0pt;mso-table-rspace:0pt;">=
<tr><td align=3D"center" class=3D"mso-button-dark-mode"><a:roundrect xmlns:=
a=3D"urn:schemas-microsoft-com:vml" xmlns:w=3D"urn:schemas-microsoft-com:of=
fice:word" href=3D"https://clicks.bitpanda.com/f/a/mEhGzh24-QliNn4en6A2Cg~~=
/AAAHahA~/eZSBiyw-Hm5hCCnk2sI--5TafglONxpDO52fC0ZxdhpVdSOJO5kh2A10Qsy2zRQMM=
iiOhDol3Ln2v8cz0SvFm0y7LI5c0RE2Jo-2Ed69Ldzb_mBPy-z1JV4ENes7aizDT5doPlemAJhp=
_Dp7CqwM8OgFWzZKoZitO_uw9d_4_Ho~" fillcolor=3D"#103E36" arcsize=3D"10%" sty=
le=3D"v-text-anchor:middle;width:123.75pt;height:30pt;" strokecolor=3D"#103=
E36" strokeweight=3D"0.75pt" ><w:anchorlock/><a:textbox inset=3D"0,0,0,0"><=
center style=3D"color:#ffffff; font-family:sans-serif, Arial; font-size:16p=
x" class=3D"mso-text-white"><![endif]--> <a href=3D"https://clicks.bitpanda=
.com/f/a/mEhGzh24-QliNn4en6A2Cg~~/AAAHahA~/eZSBiyw-Hm5hCCnk2sI--5TafglONxp=
DO52fC0ZxdhpVdSOJO5kh2A10Qsy2zRQMMiiOhDol3Ln2v8cz0SvFm0y7LI5c0RE2Jo-2Ed69Ld=
zb_mBPy-z1JV4ENes7aizDT5doPlemAJhp_Dp7CqwM8OgFWzZKoZitO_uw9d_4_Ho~" style=
=3D"display: inline-block; background: #103E36; color: #FFFFFF; font-family=
: 'Inter', Segoe UI, Roboto, Helvetica, Arial, sans-serif; font-size: 15px;=
 font-weight: 500; line-height: 1.2; margin: 0; text-align: center; text-de=
coration: none; text-transform: none; padding: 10px 24px 10px 24px; mso-pad=
ding-alt: 0px; border-radius: 4px; border-left: 1px solid #103E36; border-r=
ight: 1px solid #103E36; border-top: 1px solid #103E36; border-bottom: 1px =
solid #103E36; mso-border-alt: none; box-sizing: border-box;" target=3D"_bl=
ank" width=3D"166">Learn more  </a><!--[if mso]></center></a:textbox></a:ro=
undrect></td></tr></table><![endif]-->=0A</div></td></tr>=0A<!--[if !mso]><=
!--><tr><td valign=3D"middle" class=3D"hide-on-desktop button-container" st=
yle=3D"display: block; font-size: 0px; padding: 0px 16px 0px 16px; word-bre=
ak: break-word; text-align: center;" align=3D"center"><div>=0A<!--[if mso]>=
<table width=3D"100%" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-l=
space:0pt;mso-table-rspace:0pt;"><tr><td align=3D"center" class=3D"mso-butt=
on-dark-mode"><a:roundrect xmlns:a=3D"urn:schemas-microsoft-com:vml" xmlns:=
w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://clicks.bitpanda=
.com/f/a/mEhGzh24-QliNn4en6A2Cg~~/AAAHahA~/eZSBiyw-Hm5hCCnk2sI--5TafglONxp=
DO52fC0ZxdhpVdSOJO5kh2A10Qsy2zRQMMiiOhDol3Ln2v8cz0SvFm0y7LI5c0RE2Jo-2Ed69Ld=
zb_mBPy-z1JV4ENes7aizDT5doPlemAJhp_Dp7CqwM8OgFWzZKoZitO_uw9d_4_Ho~" fillcol=
or=3D"#103E36" arcsize=3D"11%" style=3D"v-text-anchor:middle;width:411pt;he=
ight:28.5pt;" strokecolor=3D"#103E36" strokeweight=3D"0.75pt" ><w:anchorloc=
k/><a:textbox inset=3D"0,0,0,0"><center style=3D"color:#ffffff; font-family=
:sans-serif, Arial; font-size:16px" class=3D"mso-text-white"><![endif]--> <=
a href=3D"https://clicks.bitpanda.com/f/a/mEhGzh24-QliNn4en6A2Cg~~/AAAHahA~=
/eZSBiyw-Hm5hCCnk2sI--5TafglONxpDO52fC0ZxdhpVdSOJO5kh2A10Qsy2zRQMMiiOhDol3L=
n2v8cz0SvFm0y7LI5c0RE2Jo-2Ed69Ldzb_mBPy-z1JV4ENes7aizDT5doPlemAJhp_Dp7CqwM8=
OgFWzZKoZitO_uw9d_4_Ho~" style=3D"display: table; width: 100%; background: =
#103E36; color: #FFFFFF; font-family: 'Inter', Segoe UI, Roboto, Helvetica,=
 Arial, sans-serif; font-size: 15px; font-weight: 500; line-height: 1.2; ma=
rgin: 0; text-align: center; text-decoration: none; text-transform: none; p=
adding: 0; mso-padding-alt: 0px; border-radius: 4px; border-left: 1px solid=
 #103E36; border-right: 1px solid #103E36; border-top: 1px solid #103E36; b=
order-bottom: 1px solid #103E36; mso-border-alt: none; box-sizing: border-b=
ox;" target=3D"_blank" width=3D"550"><span style=3D"display:table-cell;padd=
ing:10px 24px 10px 24px;">Learn more  </span></a><!--[if mso]></center></a:=
textbox></a:roundrect></td></tr></table><![endif]-->=0A</div></td></tr>=0A<=
!--<![endif]-->=0A</table></td></tr></table></div>=0A<!--[if mso | IE]></td=
></tr></table><![endif]-->=0A</td></tr></table></td></tr></table></div>=0A<=
!--[if mso | IE]></td></tr></table><![endif]-->=0A</div></td></tr></table>=
=0A<table align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0"=
 role=3D"presentation" style=3D"width:100%;" class=3D"section"><tr><td alig=
n=3D"center"><div role=3D"none">=0A<!--[if mso | IE]><table align=3D"center=
" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"block-grid-outl=
ook" style=3D"width:600px;" width=3D"600" ><tr><td style=3D"line-height:0px=
;font-size:0px;mso-line-height-rule:exactly;"><![endif]--><div style=3D"mar=
gin:0 auto;border-radius:0px;max-width:600px;"><table align=3D"center" bord=
er=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D=
"width:100%;border-radius:0px;"><tr><td style=3D"border-radius:0px;font-siz=
e:0px;padding:0px 0px 0px 0px;text-align:center;vertical-align:top;mso-padd=
ing-alt:0px 0px 0px 0px;" class=3D"block-grid"><table align=3D"center" bord=
er=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D=
"100%"><tr><td style=3D"line-height:0;font-size:0;direction:ltr;border-top:=
1px solid #E0E0E0;border-radius:0px;">=0A<!--[if mso | IE]><table role=3D"p=
resentation" border=3D"0" cellpadding=3D"0" cellspacing=3D"0"><tr><td style=
=3D"vertical-align:top;width:600px;" ><![endif]--><div class=3D"mj-column-p=
er-100 mj-outlook-group-fix" style=3D"font-size:0px;text-align:left;directi=
on:ltr;display:inline-block;vertical-align:top;width:100%;"><table border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" width=3D"1=
00%"><tr><td style=3D"background-color:#FFFFFF;border-radius:0px;vertical-a=
lign:top;padding:16px 0px 16px 0px;mso-padding-alt:24px 0px 24px 0px;" clas=
s=3D"padding-24px-0px-24px-0px"><table border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" role=3D"presentation" width=3D"100%">=0A<tr><td class=3D"paddi=
ng-0px-48px-24px-48px text-container" style=3D"font-size:0px;padding:0px 16=
px 16px 16px;word-break:break-word;mso-padding-alt:0px 48px 24px 48px;text-=
align:center;"><div class=3D"links-16764D"><div style=3D"font-family:'Bitpa=
nda Compressed', Impact, Helvetica, Arial, sans-serif;font-size:34px;font-w=
eight:700;letter-spacing:none;line-height:0.90;text-align:center;mso-line-h=
eight-alt:1.938em;color:#282828;"><p style=3D"margin: 0 0 0px 0;">WHERE TO =
FIND THEM </p></div></div></td></tr>=0A<tr><td class=3D"padding-0px-48px-0p=
x-48px text-container" style=3D"font-size:0px;padding:0px 16px 0px 16px;wor=
d-break:break-word;mso-padding-alt:0px 48px 0px 48px;text-align:center;"><d=
iv class=3D"links-16764D"><div style=3D"font-family:'Inter', Segoe UI, Robo=
to, Helvetica, Arial, sans-serif;font-size:16px;font-weight:normal;letter-s=
pacing:none;line-height:1.60;text-align:center;mso-line-height-alt:1.813em;=
color:#282828;" class=3D"mso-font-size-18px font-size-18px"><p style=3D"mar=
gin: 0 0 0px 0;">You can explore over 100 assets available for margin tradi=
ng on Bitpanda UK, where traders can leverage up to 3x.</p></div></div></td=
></tr>=0A<tr><td style=3D"font-size:0px;word-break:break-word;"><div style=
=3D"line-height:24px;height:24px;mso-line-height-alt:24px;">&nbsp;</div></t=
d></tr>=0A<tr><td valign=3D"middle" class=3D"hide-on-mobile button-containe=
r" style=3D"display: none; font-size: 0px; padding: 0px 24px 0px 24px; word=
-break: break-word; text-align: center;" align=3D"center"><div>=0A<!--[if m=
so]><table width=3D"100%" align=3D"center" border=3D"0" cellpadding=3D"0" c=
ellspacing=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-tab=
le-lspace:0pt;mso-table-rspace:0pt;"><tr><td align=3D"center" class=3D"mso-=
button-dark-mode"><a:roundrect xmlns:a=3D"urn:schemas-microsoft-com:vml" xm=
lns:w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://clicks.bitp=
anda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4CGF=
hnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI5a1=
5Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" fillcolor=3D"#103E36" ar=
csize=3D"10%" style=3D"v-text-anchor:middle;width:124.5pt;height:30pt;" str=
okecolor=3D"#103E36" strokeweight=3D"0.75pt" ><w:anchorlock/><a:textbox ins=
et=3D"0,0,0,0"><center style=3D"color:#ffffff; font-family:sans-serif, Aria=
l; font-size:16px" class=3D"mso-text-white"><![endif]--> <a href=3D"https:/=
/clicks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMw=
s5WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9=
zFIrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" style=3D"dis=
play: inline-block; background: #103E36; color: #FFFFFF; font-family: 'Inte=
r', Segoe UI, Roboto, Helvetica, Arial, sans-serif; font-size: 15px; font-w=
eight: 500; line-height: 1.2; margin: 0; text-align: center; text-decoratio=
n: none; text-transform: none; padding: 10px 24px 10px 24px; mso-padding-al=
t: 0px; border-radius: 4px; border-left: 1px solid #103E36; border-right: 1=
px solid #103E36; border-top: 1px solid #103E36; border-bottom: 1px solid #=
103E36; mso-border-alt: none; box-sizing: border-box;" target=3D"_blank" wi=
dth=3D"167">To margin trading  </a><!--[if mso]></center></a:textbox></a:ro=
undrect></td></tr></table><![endif]-->=0A</div></td></tr>=0A<!--[if !mso]><=
!--><tr><td valign=3D"middle" class=3D"hide-on-desktop button-container" st=
yle=3D"display: block; font-size: 0px; padding: 0px 16px 0px 16px; word-bre=
ak: break-word; text-align: center;" align=3D"center"><div>=0A<!--[if mso]>=
<table width=3D"100%" align=3D"center" border=3D"0" cellpadding=3D"0" cells=
pacing=3D"0" style=3D"border-spacing:0;border-collapse:collapse;mso-table-l=
space:0pt;mso-table-rspace:0pt;"><tr><td align=3D"center" class=3D"mso-butt=
on-dark-mode"><a:roundrect xmlns:a=3D"urn:schemas-microsoft-com:vml" xmlns:=
w=3D"urn:schemas-microsoft-com:office:word" href=3D"https://clicks.bitpanda=
.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5WxQeXZ4CGFhnu=
rEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zFIrqNqCI5a15Iu=
35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" fillcolor=3D"#103E36" arcsi=
ze=3D"11%" style=3D"v-text-anchor:middle;width:411pt;height:28.5pt;" stroke=
color=3D"#103E36" strokeweight=3D"0.75pt" ><w:anchorlock/><a:textbox inset=
=3D"0,0,0,0"><center style=3D"color:#ffffff; font-family:sans-serif, Arial;=
 font-size:16px" class=3D"mso-text-white"><![endif]--> <a href=3D"https://c=
licks.bitpanda.com/f/a/znsgRRkZL6aAoFGtuaOSbw~~/AAAHahA~/3BEMkU8rehAfHCMws5=
WxQeXZ4CGFhnurEaW472nBEeqqsWdQ-BfGwTCzMCdPWBsNjSjCWtpXxlto7g5cFl2zzmxGhE9zF=
IrqNqCI5a15Iu35utHwMpJXCZw_8P4_8IJtUdFZ6Dnwe2FHfvJ24kYIiQ~~" style=3D"displ=
ay: table; width: 100%; background: #103E36; color: #FFFFFF; font-family: '=
Inter', Segoe UI, Roboto, Helvetica, Arial, sans-serif; font-size: 15px; fo=
nt-weight: 500; line-height: 1.2; margin: 0; text-align: center; text-decor=
ation: none; text-transform: none; padding: 0; mso-padding-alt: 0px; border=
-radius: 4px; border-left: 1px solid #103E36; border-right: 1px solid #103E=
36; border-top: 1px solid #103E36; border-bottom: 1px solid #103E36; mso-bo=
rder-alt: none; box-sizing: border-box;" target=3D"_blank" width=3D"550"><s=
pan style=3D"display:table-cell;padding:10px 24px 10px 24px;">To margin tra=
ding  </span></a><!--[if mso]></center></a:textbox></a:roundrect></td></tr>=
</table><![endif]-->=0A</div></td></tr>=0A<!--<![endif]-->=0A</table></td><=
/tr></table></div>=0A<!--[if mso | IE]></td></tr></table><![endif]-->=0A</t=
d></tr></table></td></tr></table></div>=0A<!--[if mso | IE]></td></tr></tab=
le><![endif]-->=0A</div></td></tr></table>=0A<table align=3D"center" border=
=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"b=
ackground-color:transparent;width:100%;" class=3D"section"><tr><td align=3D=
"center"><div role=3D"footer">=0A<!--[if mso | IE]><table align=3D"center" =
border=3D"0" cellpadding=3D"0" cellspacing=3D"0" class=3D"block-grid-outloo=
k" style=3D"width:600px;" width=3D"600" ><tr><td style=3D"line-height:0px;f=
ont-size:0px;mso-line-height-rule:exactly;"><![endif]--><div style=3D"backg=
round:#FFFFFF;background-color:#FFFFFF;margin:0 auto;max-width:600px;"><tab=
le align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=
=3D"presentation" style=3D"background-color:#FFFFFF;width:100%;"><tr><td st=
yle=3D"font-size:0px;padding:0px 0px 0px 0px;text-align:center;vertical-ali=
gn:top;mso-padding-alt:0px 0px 0px 0px;" class=3D"block-grid">=0A<!--[if ms=
o | IE]><table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0"><tr><td style=3D"vertical-align:top;width:600px;" ><![endif]--><=
div class=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0px=
;text-align:left;direction:ltr;display:inline-block;vertical-align:top;widt=
h:100%;"><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"pr=
esentation" style=3D"border-radius:0px;vertical-align:top;" width=3D"100%">=
=0A<tr><td style=3D"font-size:0px;padding:0px 16px 16px 16px;word-break:bre=
ak-word;text-align:center;"><table width=3D"100%" role=3D"none" border=3D"0=
" cellpadding=3D"0" cellspacing=3D"0" style=3D"border-top:solid 1px #E0E0E0=
;font-size:0;display:inline-block;text-align:center;line-height:0;"><tr><td=
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d></tr>=0A<tr><td><table align=3D"center" border=3D"0" cellpadding=3D"0" ce=
llspacing=3D"0" role=3D"presentation" style=3D"width:100%;" class=3D"sectio=
n"><tr><td align=3D"center" style=3D"font-size:0px;text-align:center;vertic=
al-align:top;padding:0px;word-break:break-word;">=0A<!--[if mso | IE]><tabl=
e align=3D"center" border=3D"0" cellpadding=3D"0" cellspacing=3D"0"><tr><td=
><table role=3D"presentation" border=3D"0" cellpadding=3D"0" cellspacing=3D=
"0"><tr><td style=3D"vertical-align:top;width:600px;" ><![endif]--><div cla=
ss=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0;line-hei=
ght:0;text-align:left;display:inline-block;width:100%;direction:ltr;vertica=
l-align:top;"><!--[if mso | IE]><table role=3D"presentation" border=3D"0" c=
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