A securities firm shall invest the funds in the cash management account only in the following investment instruments:1. Treasury bills, negotiable certificates of deposit, and commercial papers with a time to maturity of less than ten days.2. Government bonds with a time to maturity of less than ten days.3. Repo-style transactions involving treasury bills, negotiable certificates of deposit, and commercial papers.4. Repo-style government bond transactions.5. Repo-style transactions involving listed (or OTC listed) straight corporate bonds and general financial bonds.6. Money market funds.7. Quasi-money market funds under bond funds.8. Other investment instruments approved by the competent authority.The issuer, guarantor, acceptor, or underlying of the negotiable certificates of deposit or commercial papers under subparagraphs 1 and 3 of the preceding paragraph shall have a short-term credit rating at or above a prescribed level from a credit rating agency as listed in Appendix 1.The issuer or the underlying of the listed (or OTC listed) straight corporate bonds and general financial bonds under paragraph 1, subparagraph 5 shall have a long-term credit rating at or above a prescribed level from a credit rating agency as listed in Appendix 2.A securities firm shall invest the funds in the cash management account under the name of "○○ Securities Firm's Customer Cash Management Account."The profits and losses resulting from investments in the same investment instruments under paragraph 1 shall be allocated back to the customers in proportion to their investment amount and other stipulated terms and conditions.