In a securities company's business, passing investors' orders on to the market is called brokerage (the broker business). Under the Financial Instruments and Exchange Act, only an exchange's members and trading participants ("members, etc.") can trade securities and market derivatives on that exchange market. Other investors therefore place their orders with securities companies and similar firms that are members, etc. Intermediation, brokerage and agency for market derivatives transactions and OTC derivatives transactions are also financial instruments business under the Act.