Arthur Chen: [Foreign Language] Regarding two questions. Number one is for the Japan stock trading offering to the markets outside of Japan, our answer is definitely it will be a yes and has already been in our product lines. Hopefully, we can launch the U.S. — the Japan stock trading to our clients in Hong Kong and Singapore in the near future. And we do think this kind of product offering will further — helpful to our client engagement in these markets and also increase the client participations in our platform and also will — our topline will also be benefit arising from that. Regarding the blended commission rate fluctuation, as we elaborated to the market several quarters, it is mainly due to the client’s trading behaviors, because our U.S. stock trading commissions do have different menus, price menus, and one menu is actually not based on the percentage of the trading volume but on the number of the shares.
So, when people trade these big blue chips or these OTC stocks, the combination will have the implications on the blended commission base as well. In the third quarter, the fluctuation is mainly because of that. And, going forward, we think, you know, the blend commission rate, if we take out this trading patterns’ reasons, can maintain stable in the near future. Thank you.
Peter Zhang: [Foreign Language]
Operator: Thank you. Next question comes from the line of Li Wan with BOCOM International. Please go ahead.
Li Wan: [Foreign Language] Can you give us a breakdown of interest income, and what will be the impact from Fed’s rate card next year? Thank you.
Arthur Chen: [Foreign Language] In terms of the interest incomes, year-to-date, the interest revenues contributed from client idle cash is much bigger than the interest income derived from the margin lending and the security lending business. And, going forward, we do not think, you know, the Fed’s rate cut will be very fast. And in circumstances when the rate cut normally, it would be helpful to the trading volumes for the whole capital markets for our clients as well. Therefore, we do think the trading revenues arising from this rate cut will largely offset the potential idle cash revenue decrease. Thank you.
Operator: Ms. Wan, are you done with your question?
Li Wan: Yes. Thank you.
Operator: Thank you. Next question comes from the line of Emma Xu with BofA Securities. Please go ahead. Please go ahead, Ms. Xu. Ms. Xu, if you have muted from your end, please unmute yourself, and you can go ahead with your question. Ms. Xu, can you go ahead with your question? Ms. Emma Xu, can you go ahead with your question?
Daniel Yuan: Well, it seems that Emma is not here tonight. So, if — operator, do you have any further questions on the line?
Operator: There are no more questions. So, I will now hand the call back over to Mr. Yuan for closing comments. Thank you.
Daniel Yuan: Sure. Yes. So that concludes our call today. On behalf of the Futu management team, I would like to thank you for joining us today. If you have any further questions, please do not hesitate to contact me or any of our Investor Relations Representatives. Thank you, and goodbye.
Operator: Thank you. This concludes our conference for today. Thank you for participating. You may now disconnect.
