Amendment #4 Page 618 of 868 leklinef.cei on, The far values of short-term investments 'es/acted deposits and trade receivables and payables approxirnge thee carrying values At to thew short-term raise and as they have charactensbcs similar to Dose that would to obtained had these firencial instruvents been traded in the market The far values for the Group's financial assets and liabilities that are measured al fair value in the combined financial statements. Mass/led based on tre following fair value hierarch( depending on tre irpLes used in the valuaton methods applied. Level 1—Use of quoted prces (unadjusted) in active markets for iderteal estruments A firencol nstrumeil is considered as quoted in an active market if the quoted prices are immediately and regularly available from a stock exchange or organized over4he-counter market, by operators. brokers or market associate'', by entities whose purpose is to disclose the paces by regulatory agencies arc if these prices represent market transactions regularly carried out between market participants in orderly transactions Level 2—Use of inputs other than quoted prices 'Wad in Level 1 that are observable for the instrument either directly (that is as prices) or indirectly (that is, derived from prices) In relation to financial nsrunents not traded in an active market the fair value must be determined based on the valuabon/proing metro:toed/ Level 3—Use of inputs that are not based a observable market data (nonobiervatee inputs) Tie CASSSACaten of financial instruments that aro measured at fair value in the cartmed !mantel statements by fair value Neraicl , is Fair value as of December 31, 2014 Description Assets Shoff term investmerts Balance at 12/31fl 4 Level 1 Level 2 Level 3 24477 24 477 Market risk—The market risk reflects the possibilty of monetary losses due to the changes in vanables that impact the prices and rates traded n the market These fluctuations basically impact all se