March 2018 – Including Quarterly Analysis FTSE Mondo Visione Exchanges Index Monthly Analysis

The FTSE Mondo Visione Exchanges Index is a comprehensive measure of all publicly traded exchanges and trading floors:

ASX Hong Kong Exchanges and Clearing Ltd SA Intercontinental Exchange Bolsa Mexicana de Valores SA Bolsa y Mercado Espanoles Johannesburg Ltd BSE Stock Exchange Group - Sofia Bursa de Valori Bucuresti SA of India Nairobi Securities Exchange CME Group NZX Ltd Deutsche Bourse Philippine Stock Exchange Dubai Ltd TMX Group Hellenic Exchanges SA

INDEX VALUE

Index Value 30/03/2018 51176.7 28/02/2018 51993.9 Closing all-time high - 12 March 2018 53408.58 Source: FTSE Group, data as at 30 March 2018

PERFORMANCE

Capital Return YTD (USD%) 7.8 1M (USD%) -1.6 12M (USD%) 30.5 Source: FTSE Group, data as at 30 March 2018

CONSTITUENT MARKET CAPITALISATION AND CAPITAL RETURN RANKED BY 1 MONTH PERFORMANCE (USD TERMS)

Constituent Name Country Net Market Cap 1M Performance (%) YTD Performance 12M Performance (USDm) (%) (%) Nasdaq USA 9,793 6.8 12.2 24.1 Nairobi Securities Exchange Kenya 53 6.7 10.3 64.1 Japan Exchange Group Japan 9,954 6.5 6.4 30.2 Euronext France 5,108 4.5 17.4 67 GrouUnited Kingdom 18,082 4.3 12.8 46 Bolsa Mexicana de Valores SMexico 835 2.8 10 15.5 Moscow Exchange Russia 2,875 2.4 7.5 2.8 Cboe Global Markets USA 12,703 1.9 -8.4 40.7 Deutsche Boerse Germany 25,409 1.9 17 48 NZX Ltd 207 1.8 -3.1 2.2 B3 SA 15,783 1.8 16.9 32.2 Bulgarian Stock Exchange Bulgaria 12 0 10.8 122.3 Bolsas y Mercados EspanolesSpain 2,580 0 6.1 1.7 S.C. Bursa de Valori BucuresRomania 60 -0.6 4.8 3.8 Intercontinental Exchange USA 41,607 -0.8 2.8 21.1 Singapore Exchange Singapore 4,611 -1.5 1 2 Bursa Malaysia Malaysia 969 -2.3 12.7 29.4 CME Group USA 54,690 -2.7 10.7 36.1 Philippine Stock Exchange Philippines 335 -3.1 -5.2 -4.4 TMX Group Limited Canada 3,163 -3.2 3.1 14.7 United Arab Emirates 457 -4.6 -7.1 -16.8 BSE India 125 -5.4 -18.6 -23 ASX Australia 8,319 -5.5 0.2 11.7 Warsaw Stock Exchange Poland 324 -6.1 -10.8 7.6 Hellenic Exchanges SA Greece 319 -8.4 -9.5 20.8 JSE South Africa 1,330 -9.5 25.9 62.8 Hong Kong Exchanges & Cle Hong Kong 40,314 -10.4 6 29.2 Multi Commodity Exchange oIndia 151 -14.6 -28.4 -44.9 Source: FTSE Group, data as at 30 March 2018

CONSTITUENT CAPITAL RETURNS RANKED BY 1 MONTH PERFORMANCE (LOCAL CURRENCY TERMS)

Constituent Name Country Currency 1M Performance (%) YTD Performance 12M Performance (%) (%) Nasdaq USA USD 6.8 12.2 24.1 Nairobi Securities Exchange Kenya KES 6.3 7.9 61 Japan Exchange Group Japan JPY 6.1 0.5 24.3 Moscow Exchange Russia RUB 4.6 7.4 4.9 B3 SA Brazil BRL 4.2 17.2 38.4 Euronext France EUR 3.7 14.6 45.2 London Stock Exchange Group United Kingdom PNC 2.4 8.8 30.1 NZX Ltd New Zealand NZD 1.9 -4.5 -0.9 Cboe Global Markets USA USD 1.9 -8.4 40.7 Deutsche Boerse Germany EUR 1.1 14.3 28.7 Bolsa Mexicana de Valores SAB de CV Mexico MXN -0.6 2.6 12 Intercontinental Exchange USA USD -0.8 2.8 21.1 Bolsas y Mercados Espanoles Spain EUR -0.9 3.6 -11.6 Bulgarian Stock Exchange Bulgaria BGN -0.9 8.2 93.3 S.C. Bursa de Valori Bucuresti S.A. Romania RON -1.4 2.2 -7.5 Singapore Exchange Singapore SGD -2.4 -0.9 -4.3 TMX Group Limited Canada CAD -2.6 6.1 10.9 CME Group USA USD -2.7 10.7 36.1 Philippine Stock Exchange Philippines PHP -2.9 -0.9 -0.6 Bursa Malaysia Malaysia MYR -3.5 7.7 13.1 ASX Australia AUD -4 2.2 11.1 Dubai Financial Market United Arab Emirates AED -4.6 -7.1 -16.8

BSE India INR -5.3 -16.9 -22.7 Warsaw Stock Exchange Poland PLN -6.1 -12.1 -7

JSE South Africa ZAR -9.2 20.5 43.8

Hellenic Exchanges SA Greece EUR -9.2 -11.6 5.1

Hong Kong Exchanges & Clearing Hong Kong HKD -10.1 6.4 30.5

Multi Commodity Exchange of India India INR -14.5 -26.8 -44.6

Source: FTSE Group, data as at 30 March 2018

FTSE MONDO VISIONE EXCHANGES INDEX AND CONSTITUENT PERFORMANCE TABLE (USD CAPITAL RETURN)

Since 17 1M (%) 3M (%) 6M (%) YTD (%) 12M (%) 3YR (%) 5YR (%) August 2001 (%)

FTSE/MV Exchanges Index -1.6 7.8 13.1 7.8 30.5 53.0 99.5 923.5 ASX -5.5 0.2 4.5 0.2 11.7 35.9 15.8 540.2 B3 SA 1.8 16.9 6.1 16.9 32.2 130.0 18.7 - Bolsa Mexicana de Valores SAB de CV 2.8 10.0 13.5 10.0 15.5 12.4 -33.3 - Bolsas y Mercados Espanoles 0.0 6.1 -2.0 6.1 1.7 -24.1 40.2 - BSE -5.4 -18.6 -22.4 -18.6 -23.0 - - - Bulgarian Stock Exchange 0.0 10.8 24.7 10.8 122.3 90.6 - - Bursa Malaysia -2.3 12.7 19.0 12.7 29.4 23.4 33.7 - Cboe Global Markets 1.9 -8.4 6.0 -8.4 40.7 98.8 211.9 - CME Group -2.7 10.7 19.2 10.7 36.1 70.8 172.0 - Deutsche Boerse 1.9 17.0 25.5 17.0 48.0 66.5 124.2 658.7 Dubai Financial Market -4.6 -7.1 -6.3 -7.1 -16.8 -31.1 -4.6 - Euronext 4.5 17.4 20.0 17.4 67.0 72.6 - - Hellenic Exchanges SA -8.4 -9.5 -0.9 -9.5 20.8 28.8 31.9 21.1 Hong Kong Exchanges & Clearing -10.4 6.0 20.9 6.0 29.2 32.7 90.9 2214.4 Intercontinental Exchange -0.8 2.8 5.6 2.8 21.1 55.4 122.4 - Japan Exchange Group 6.5 6.4 4.7 6.4 30.2 27.5 104.2 - JSE -9.5 25.9 70.5 25.9 62.8 55.9 104.9 - London Stock Exchange Group 4.3 12.8 12.6 12.8 46.0 58.6 216.9 1083.1 Moscow Exchange 2.4 7.5 1.4 7.5 2.8 73.9 27.8 - Multi Commodity Exchange of India -14.6 -28.4 -35.7 -28.4 -44.9 -43.0 -33.0 - Nairobi Securities Exchange 6.7 10.3 15.5 10.3 64.1 30.6 - - Nasdaq 6.8 12.2 11.2 12.2 24.1 69.3 166.9 - NZX Ltd 1.8 -3.1 -9.5 -3.1 2.2 -7.3 -31.3 - Philippine Stock Exchange -3.1 -5.2 -3.5 -5.2 -4.4 -35.5 -51.3 - S.C. Bursa de Valori Bucuresti S.A. -0.6 4.8 -7.3 4.8 3.8 -16.4 21.8 - Singapore Exchange -1.5 1 3.3 1 2 -5.3 -9.4 1063.6 TMX Group Limited -3.2 3.1 2.9 3.1 14.7 34.9 6 Warsaw Stock Exchange -6.1 -10.8 -1.5 -10.8 7.6 -5.9 0

Source: FTSE Group, data as at 30 March 2018

PERFORMANCE OF QUARTER AGAINST PREVIOUS QUARTER (USD CAPITAL RETURN)

Q1 2018 Q4 2017 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 7.8 5.0 ASX 0.2 4.3 B3 SA 16.9 -9.3 Bolsa Mexicana de Valores SAB de CV 10.0 3.2 Bolsas y Mercados Espanoles 6.1 -7.6 BSE -18.6 -4.7 Bulgarian Stock Exchange 10.8 12.5 Bursa Malaysia 12.7 5.6 Cboe Global Markets -8.4 15.8 CME Group 10.7 7.6 Deutsche Boerse 17.0 7.2 Dubai Financial Market -7.1 0.9 Euronext 17.4 2.2 Hellenic Exchanges SA -9.5 9.5 Hong Kong Exchanges & Clearing 6.0 14.1 Intercontinental Exchange 2.8 2.7 Japan Exchange Group 6.4 -1.6 JSE 25.9 35.5 London Stock Exchange Group 12.8 -0.1 Moscow Exchange 7.5 -5.7 Multi Commodity Exchange of India -28.4 -10.2 Nairobi Securities Exchange 10.3 4.8 Nasdaq 12.2 -1.0 NZX Ltd -3.1 -6.6 Philippine Stock Exchange -5.2 1.8 S.C. Bursa de Valori Bucuresti S.A. 4.8 -11.5 Singapore Exchange 1 2.3 TMX Group Limited 3.1 -0.3 Warsaw Stock Exchange -10.8 10.5 Source: FTSE Group, data as at 30 March 2018

PERFORMANCE OF QUARTER AGAINST QUARTER FOR PREVIOUS YEAR (USD CAPITAL RETURN)

Q1 2018 Q1 2017 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 7.8 6.5 ASX 0.2 6.9 B3 SA 16.9 19.8 Bolsa Mexicana de Valores SAB de CV 10.0 24.4 Bolsas y Mercados Espanoles 6.1 12.7 BSE -18.6 - Bulgarian Stock Exchange 10.8 6.0 Bursa Malaysia 12.7 12.0 Cboe Global Markets -8.4 9.7 CME Group 10.7 3.0 Deutsche Boerse 17.0 12.3 Dubai Financial Market -7.1 0.0 Euronext 17.4 5.8 Hellenic Exchanges SA -9.5 -4.2 Hong Kong Exchanges & Clearing 6.0 6.5 Intercontinental Exchange 2.8 6.1 Japan Exchange Group 6.4 -0.7 JSE 25.9 -20.0 London Stock Exchange Group 12.8 10.1 Moscow Exchange 7.5 -3.8 Multi Commodity Exchange of India -28.4 -0.6 Nairobi Securities Exchange 10.3 -10.3 Nasdaq 12.2 3.5 NZX Ltd -3.1 3.1 Philippine Stock Exchange -5.2 -0.6 S.C. Bursa de Valori Bucuresti S.A. 4.8 6.4 Singapore Exchange 1 11.2 TMX Group Limited 3.1 -5.2 Warsaw Stock Exchange -10.8 17.1

Source: FTSE Group, data as at 30 March 2018

1 Year Performance (USD Capital Return)

Constituents 1 Year Performance Constituents 1 Year Excess Capital Returns ASX 11.7 ASX -18.8 B3 SA 32.2 B3 SA 1.7 Bolsa Mexicana de Valores SAB de CV 15.5 Bolsa Mexicana de Valores SAB de CV -15.0 Bolsas y Mercados Espanoles 1.7 Bolsas y Mercados Espanoles -28.8 BSE -23.0 BSE -53.5 Bulgarian Stock Exchange 122.3 Bulgarian Stock Exchange 91.8 Bursa Malaysia 29.4 Bursa Malaysia -1.1 Cboe Global Markets 40.7 Cboe Global Markets 10.2 CME Group 36.1 CME Group 5.6 Deutsche Boerse 48.0 Deutsche Boerse 17.5 Dubai Financial Market -16.8 Dubai Financial Market -47.3 Euronext 67.0 Euronext 36.5 Hellenic Exchanges SA 20.8 Hellenic Exchanges SA -9.7 Hong Kong Exchanges & Clearing 29.2 Hong Kong Exchanges & Clearing -1.3 Intercontinental Exchange 21.1 Intercontinental Exchange -9.4 Japan Exchange Group 30.2 Japan Exchange Group -0.3 JSE 62.8 JSE 32.3 London Stock Exchange Group 46.0 London Stock Exchange Group 15.5 Moscow Exchange 2.8 Moscow Exchange -27.7 Multi Commodity Exchange of India -44.9 Multi Commodity Exchange of India -75.4 Nairobi Securities Exchange 64.1 Nairobi Securities Exchange 33.6 Nasdaq 24.1 Nasdaq -6.4 NZX Ltd 2.2 NZX Ltd -28.3 Philippine Stock Exchange -4.4 Philippine Stock Exchange -34.9 S.C. Bursa de Valori Bucuresti S.A. 3.8 S.C. Bursa de Valori Bucuresti S.A. -26.7 Singapore Exchange 2.0 Singapore Exchange -28.5 TMX Group Limited 14.7 TMX Group Limited -15.8 Warsaw Stock Exchange 7.6 Warsaw Stock Exchange -22.9 Source: FTSE Group, data as at 30 March 2018

1 YEAR PERFORMANCE CHART OF THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN)

54,000 12 Mar 2018: FTSE Mondo Visione Exchanges Index reaches new all-time record closing high of 53,408.58 13 Jun 2017: Brazil's CVM approves 52,000 BM& FBOVESPA S.A . name change to B3 S.A. – Brasil, Bolsa, Balcão and merger with Cetip 29 Nov 2017: London Stock Exchange Group announces CEO Xavier Rolet will step down immediately 50,000 30 Mar 2018: BM& FBOVESPA and CETIP combine to form B3 as a financial market 03 Jul 2017: China Foreign infrastructure company Exchange Trade System and Hong Kong Exchanges 19 Oct 2017: London Stock 48,000 and Clearing Limited Exchange Group starts search launch Bond Connect for successor to CEO Xavier Rolet 09 Feb 2018: Indian Exchanges 03 Apr 2017: Euronext raises concern of liquidity flight and Intercontinental arising from use of their data Exchange sign 13 2017: Deutsche to create products traded and agreement for Boerse AG paves the way 46,000 settled outside India derivatives clearing to closure of investigation Index Value Index proceedings

27 Mar 2018: Euronext completes The Irish Stock 44,000 Exchange plc acquisition 26 Oct 2017: Deutsche 23 May 2017: Euronext to Boerse AG CEO Carsten buy 90% of FastMatch, the Kengeter informs fastest-growing ECN in the Supervisory Board he will spot FX market step down at year-end 42,000 14 Aug 2017: Euronext 18 Dec 2017: CME 29 Mar 2018: CME Gr oup completes acquisition of launches its CME Inc announces NEX about 90% of the bitcoin futures Group plc acquisition FastMatch ECN 10 Dec 2017: CBOE Global contract (BTC) Markets, Inc's Cboe bitcoin 40,000 futures (XBT) start trading as planned 25 May 2017: B3, Bradesco and It aú Unibanco invest in Fintech company, R3 to accelerate DLT development

38,000

Source: FTSE Group, data as at 30 March 2018 © FTSE International Limited

FTSE MONDO VISIONE EXCHANGES INDEX AND THE FTSE ALL-WORLD INDEX PERFORMANCE SINCE 17 AUGUST 2001 (USD CAPITAL RETURN) ###########################

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45000

40000

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30000

25000

20000

15000

10000

5000

0 Apr-02 Apr-03 Apr-04 Apr-05 Apr-06 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Dec-01 Dec-02 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Aug-02 Aug-03 Aug-04 Aug-06 Aug-07 Aug-08 Aug-09 Aug-11 Aug-12 Aug-13 Aug-15 Aug-16 Aug-17 Aug-01 Aug-05 Aug-10 Aug-14

FTSE Mondo Visione Exchanges Index FTSE All-World Index*

* FTSE All-World Index rebased to 5000 on 17 August 2001 Source: FTSE Group, data as at 30 March 2018

1 YEAR CONSTITUENT PERFORMANCE (USD CAPITAL RETURN)

140% 122.3 120%

100%

80% 67.0 62.8 64.1 60% 48.0 46.0 40.7 36.1 40% 32.2 29.4 29.2 30.2 20.8 21.1 24.1 15.5 14.7 20% 11.7 7.6 1.7 2.8 2.2 3.8 2.0 0% -4.4 -20% -16.8 -23.0 -40% -44.9 -60% JSE BSE ASX B3SA Nasdaq NZXLtd Euronext CMEGroup BursaMalaysia DeutscheBoerse MoscowExchange TMX GroupLimited SingaporeExchange CboeGlobal Markets HellenicExchanges SA DubaiFinancial Market JapanExchange Group WarsawStock Exchange BulgarianStock Exchange PhilippineStock Exchange IntercontinentalExchange NairobiSecurities Exchange Bolsas y Mercados Espanoles Mercados y Bolsas LondonStock Exchange Group HongKong Exchanges & Clearing S.C.BursadeValori Bucuresti S.A. MultiCommodity Exchange of India Bolsa Mexicana de Valores SAB de CV de SAB Valores Mexicanade Bolsa Source: FTSE Group and Thomson Datastream, data as at 30 March 2018

1 YEAR EXCESS CAPITAL RETURNS AGAINST THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN)

120%

100% 91.8

80%

60% 36.5 33.6 40% 32.3 17.5 15.5 20% 10.2 1.7 5.6 0% -1.1 -1.3 -0.3 -20% -9.7 -9.4 -6.4 -15.0 -15.8 -18.8 -22.9 -40% -28.8 -27.7 -28.3 -26.7 -28.5 -34.9 -47.3 -60% -53.5 -80% -75.4 -100% JSE BSE ASX B3SA Nasdaq NZXLtd Euronext CMEGroup BursaMalaysia DeutscheBoerse MoscowExchange TMX GroupLimited SingaporeExchange CboeGlobal Markets HellenicExchanges SA DubaiFinancial Market JapanExchange Group WarsawStock Exchange BulgarianStock Exchange PhilippineStock Exchange IntercontinentalExchange NairobiSecurities Exchange Bolsas y Mercados Espanoles Mercados y Bolsas LondonStock Exchange Group HongKong Exchanges & Clearing S.C.BursadeValori Bucuresti S.A. MultiCommodity Exchange of India Bolsa Mexicana de Valores SAB de CV de SAB Valores Mexicanade Bolsa Source: FTSE Group and Thomson Datastream, data as at 30 March 2018

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