Electronic Access & Trading Agreement

1) Scope of Agreement. eOption (“We”), agree to 4) Use of the Services. provide you, in accordance with this Agreement a) We grant you, for the term of this Agreement, a (the “Agreement”), with access to any electronic personal, limited, non-exclusive, revocable, trading services (each, together with any related non-transferable and non- sublicenseable software, a “Trading Service”) that we may make license to use the Trading Services pursuant to available to you, either directly through Regal the terms of this Agreement. We may provide Direct, or through a third party service provider certain portions of the Trading Services under which will consist of one or more of the following license from third parties, and you will comply electronic services: (a) trading services with with any additional restrictions on your usage respect to transactions (each, a “Transaction”) in that we may communicate to you from time to securities, options and other financial instruments, time, or that are otherwise the subject of an which will be executed with or through us or one of agreement between you and such licensors. our affiliates; (b) services that permit you to view b) We are providing the Trading Services to you (for informational purposes only) the status of only for your internal use, except as provided Transactions; (c) services for the display or in Section 5(d), and only for the purposes, and transmission of indications of interest or subject to the terms of this Agreement. You conditional offers to purchase securities or enter may not sell, lease, or provide, directly or into other Transactions; and (d) any additional indirectly, the Trading Services or any portion services made available through the Trading of the Trading Services to any third party Services. In addition, we will provide you with any except as permitted by this Agreement. You software and equipment, and related maintenance, acknowledge that all proprietary rights in the described in a schedule attached to this Agreement. Trading Services are owned by us or by any Any additional terms of a particular Trading applicable third-party service providers Service will be set forth in a separate supplement selected by us providing us with all or part of to this Agreement or on the Trading Service. the Trading Services, or providing you with 2) Term and Termination. This Agreement is access to the Trading Services, or their effective as of the date listed below and will respective licensors, and are protected under continue in effect until terminated by either party copyright, and other intellectual at any time, with or without cause, upon written property laws and other applicable law. You notice to the other party. This Agreement will receive no copyright, intellectual property remain in effect with respect to all Transactions rights or other rights in or to the Trading executed through a Trading Service regardless of Services, except those specifically set forth in any termination or other action with respect to the this Agreement. You will protect and not Trading Service. violate those proprietary rights in the Trading Regardless of any other provision of the Services and honor and comply with our Agreement, We have the right to suspend or reasonable requests to protect our and our terminate all or any part of any Trading Service (at third-party service providers’ contractual, any time, with or without cause or prior notice), or statutory and common law rights in the your access to any Trading Service, to change the Trading Services. If you become aware of any nature, composition or availability of any Trading violation of our or our third-party service Service, or to change the limits on the trading you providers’ proprietary rights in the Trading may conduct through any Trading Service. Services, you will notify us in writing. 3) Fees and Costs. You are responsible for all fees, c) You are responsible for ensuring the Trading costs and expenses associated with your access to Services’ security in connection with your use and use of the Trading Services and the execution of the Trading Services. and settlement of Transactions (including, d) You are bound by, and will comply with, the commissions, regulatory fees, exchange fees, various legends, disclaimers, terms and telecommunications, modems and other conditions and restrictions displayed on or connectivity costs, and costs of any third-party linked to the Trading Services. software, equipment and any related maintenance e) You may access each Trading Service only services). Please see Exhibit A for a listing of fees. through one or more passwords or other eOption Electronic Access and Trading Agreement 2

access methods that we specify (collectively, terms of this Agreement and the terms of the “Access Methods”). You are solely responsible Client Agreement, the terms of this Agreement for ensuring that your Access Methods are will control regarding the Trading Services, known to and used by only those users that you (except that any governing law and dispute authorize (“Authorized Users”). At our request, resolution provisions of the Client Agreement you will provide us a list of your Authorized will prevail over Section 11(j) of this Users, their countries of domicile and updates Agreement). of the list. You acknowledge that, in our b) We have no obligation to accept, or to execute discretion, we may deny access to a Trading or cancel, all or any part of a Transaction that Service to any user of your Access Methods. you seek to execute or cancel through a f) You will be (i) solely responsible for all acts or Trading Service. Without limitation of the omissions of any person using a Trading foregoing, we have no responsibility for Service through your Access Methods and (ii) transmissions that are inaccurate or not without limitation of the foregoing or any received by us and may execute any other provision of this Agreement, bound by Transaction on the terms actually received by the terms of all Transactions executed and us. orders placed through a Trading Service using c) You may receive a written or electronic your Access Methods. All transmissions acknowledgement of the status of each generated by use of your Access Methods will Transaction executed through a Trading be deemed to be authorized by you and made Service in addition to any written or electronic by an Authorized User whether or not we confirmation of the execution of the acknowledge receipt of such transmission. Transaction (“Confirmation”) that we deliver g) If your Access Methods have been lost, stolen to you. If there is a conflict between the terms or compromised, you will promptly notify us of any Confirmation and (i) the terms of this and any representative designated by the Agreement, or (ii) the acknowledgement, the Trading Service to receive notice. Upon receipt terms of the Confirmation will control. of this notice, your Access Methods will be Execution terms as reflected in such an cancelled but you are responsible for any acknowledgement or Confirmation or in actions taken through the use of such Access execution reports are subject to adjustment for Methods before they are cancelled. In our sole errors including but not limited to errors on discretion, we may terminate, revoke, suspend, the part of the markets to which your orders modify, or change any or all of your Access were routed. Methods at any time with or without prior d) You will use the Trading Services and enter notice. into Transactions only for your own benefit h) You will be solely responsible for any losses, and account() and will not use the Trading damages or costs that you may incur as a result Services on behalf of third parties without our of errors made by, or the failure of, the written permission. software or equipment that you use to access e) We may engage in trading in the markets the Trading Services. reflected on the Trading Services for our i) The software used in connection with the proprietary accounts and on behalf of accounts Trading Services may include encryption under our management, which could affect the methods that are subject to the export and/or value or terms of Transactions and we may import control laws of the United States and enter into transactions at prices different from other countries. You will cooperate with us in the prices reflected in the Trading Service. complying with any such laws. f) You acknowledge that short sales must be 5) Transactions. done in a margin account and be subject to a) Each Transaction you execute through a margin requirements. Prior to creating a short Trading Service is also subject to any other stock position, you must reasonably believe agreement between you and us that applies to that shares are available to borrow. If we the relevant Transaction (“Client cannot borrow stock, we may buy-in stock on Agreements”). If there is a conflict between the your behalf, without prior notice, to cover eOption Electronic Access and Trading Agreement 3

short positions. You agree to be liable for any Trading Service will be on behalf of a plan losses or Hard to Borrow Fees. Hard to Borrow subject to the Employee Retirement Income Fees are defined as fees We charge for shorting Security Act of 1974 or any similar statute. equities that are considered difficult or b) We represent and warrant to you that we have unavailable to borrow for short selling all rights, authority and licenses to provide the transactions (and such Fees are variable and Trading Services to you, as set forth herein and may change from day to day). you represent and warrant to us that you have 6) Representations and Warranties. all consents, rights, authority, and have taken a) You represent and warrant to us that your use all actions necessary, to use the Trading of the Trading Services will comply with all Services and enter any transactions relating applicable laws, rules and regulations and with thereto, as set forth herein. the policies and practices of securities c) Except as set forth in paragraph 6(b), we make exchanges and clearing houses, alternative no warranty, express or implied, to you trading facilities, and self-regulatory concerning the Trading Services or with organizations, and the policies and procedures respect to any data or information that we may applicable to the Trading Services and this provide in connection with the Trading Agreement and any other agreement between Services. You expressly acknowledge and you and us, as may be amended from time to agree that we have made no recommendation time, including rules regarding short sales with respect to the Trading Services or any under U.S. securities laws (e.g., Securities and Transaction and that we and any third-party Exchange Commission Rule 10a-1). Further, service providers selected by you or us provide you will provide us with all terms and the Trading Services on an “as is” basis, at your conditions relevant to your orders, designate sole risk. We expressly disclaim any implied any of your short sales as such and locate your warranties of merchantability or fitness for a borrow of shares prior to placing any short particular purpose, including any warranty for sale orders with us, all in accordance with the use or the results of the use of the Trading applicable law. Without limitation of the Services with respect to their correctness, foregoing, you represent and warrant that, if quality, accuracy, completeness, reliability, you use the Trading Services to effect performance, timeliness, continued transactions (i) in securities that you or your availability or otherwise. We and such third- affiliates issued or, (ii) if you are a broker- party service providers are not responsible for dealer, investment manager or investment maintaining the Trading Services or for adviser and are acting on behalf of a customer, supplying any corrections, updates or releases in securities which the customer or the concerning the Trading Services. We are not customer’s affiliate issued, such transactions soliciting any action based upon use of the will comply with applicable laws and Trading Services. regulations regarding transactions in 7) Limitation of Liability; Indemnity. securities by issuers and affiliates. Prior to a) We, our partners, officers, directors, affiliates, entering an order, you will advise us of any employees and agents (each a “Related Party”) legal restrictions on the transfer of any have no liability, contingent or otherwise, to securities you sell (including Rule 144 or you or to third parties, for the correctness, 145(d) under the Securities Act of 1933) and quality, accuracy, security, completeness, you will provide any necessary documents to reliability, performance, timeliness, pricing or us (including prospectuses or opinions) to continued availability of the Trading Services satisfy legal transfer requirements. You are or for delays or omissions of the Trading responsible for any delays, expenses and Services, or for the failure of any connection or losses associated with compliance or failure to communication service to provide or maintain comply with any restrictions on the transfer of your access to a Trading Service, or for any securities. You further represent and warrant interruption in or disruption of your access or that, unless you advise us otherwise, no any erroneous communications between us Transaction executed by you through a and you. We are not liable for any special, eOption Electronic Access and Trading Agreement 4

indirect, incidental or consequential damages terms include third party service providers which you may incur or experience because selected by us. you entered into this Agreement or relied on d) Orders that you enter through the Trading the Trading Services, even if we know of the Services may be routed to third party systems, possibility of those damages. We are not markets or exchanges (each, a “Third Party responsible for informing you of any System”). We are not responsible for any difficulties that We or other third parties losses, damages or costs that may result from experience concerning use of the Trading errors made by any Third-Party System in Services for our accounts or other accounts or reading, processing or executing such orders, to take any action in connection with those or if any Third-Party System otherwise fails to difficulties. We also have no duty or obligation properly execute such orders. to verify, correct, complete or update any e) Without prejudice to any rights under this information displayed in the Trading Services. Agreement, in case of any breach of our You are solely responsible for any losses, warranty in Paragraph 6(b), our liability is damages or costs resulting from your reliance limited to the repair or replacement of any part on any data or information that we may of the Trading Services that causes the breach. provide in connection with your use of the f) You agree that, with the exception of the Trading Services. You will make your own provisions of Paragraph 7(e), our liability and independent decision to access or use any the collective liability of our Related Parties Trading Service or to execute any Transaction and the third party service providers selected and you acknowledge and agree that the by you or us, if any, arising out of any kind of Trading Services do not and will not serve as legal claim (whether in contract, tort, or the primary basis for any of your investment otherwise) or in any way connected to your decisions concerning your accounts or your use of the Trading Services will not exceed the managed or fiduciary accounts. You are solely amount of the profit we received on the responsible for any investment or trading specific transaction giving rise to such legal decisions you make with respect to products claim unless caused directly by our gross identified on the Trading Services and we are negligence or willful misconduct. not responsible for determining whether any g) None of the above will limit your rights and Transaction you may enter into is suitable, remedies under the state or federal securities appropriate or advisable. We (and any of our laws. affiliates) are not and will not be, by virtue of 8) Data and Information. providing the Trading Services, an advisor or a) You will supply us with all information we may fiduciary for you or your managed or fiduciary reasonably request in writing concerning you accounts. and your use of the Trading Services. You and b) You will indemnify, protect, and hold harmless your Authorized Users will also provide and us and our Related Parties from and against obtain any consents that we may reasonably any and all losses, liabilities, judgments, suits, request in connection with the provision of actions, proceedings, claims, damages, costs information to us by you or on your behalf. We (including attorney’s fees) (collectively, may report information obtained under this “Losses”) resulting from or arising out of the paragraph 8(a) to regulatory authorities or to use of the Trading Services by you or your third party service providers, as we determine Related Parties, including any breaches of the in our sole discretion to be necessary. You security of the Trading Services (including any consent and agree to comply with any of our access or entry into any of our other systems privacy policies and procedures that we not covered by this Agreement) provide. c) In Paragraph 7(a) the terms “we”, “our” and b) With respect to any market data or other “us” include any third-party service providers information that we or any third party service selected by you or us in connection with the provider provide to you in connection with Trading Services, and in Paragraph 7(b) those your use of the Trading Services, (i) we and any such provider are not responsible or liable if eOption Electronic Access and Trading Agreement 5

any such data or information is inaccurate or a) You acknowledge that you entered into this incomplete in any respect; (ii) we and any such Agreement without inducement by any provider are not responsible or liable for any representation or warranty not set forth in this actions that you take or do not take based on Agreement. This Agreement contains the such data or information; (iii) you will use such entire agreement of the parties with respect to data or information solely for the purposes set its subject matter and supersedes all existing forth in this Agreement and any Client and all other oral, written or other Agreement; (iv) such data or information is communications between the parties proprietary to us and any such provider and concerning this subject matter. This you will not retransmit or disclose such data or Agreement may be modified only by a information to third parties except as required subsequent writing signed by both parties. by applicable law or regulation; and (v) you b) Neither party may assign the Agreement will use such data or information solely in without the other party’s prior written compliance with applicable laws, rules and consent. However, we may assign this regulations. Agreement to any entity (i) controlling, 9) No Promotion. Without the prior written consent controlled by, or under common control with of the other party, neither party will (i) use the us, or (ii) which succeeds to all or substantially name of the other party, or the name of any of the all of our assets and business. other party’s Related Parties, or any trade name, c) If any provision of this Agreement (or any trademark, trade device, , symbol or portion thereof) is invalid, illegal or any abbreviation, contraction or simulation of the unenforceable, the validity, legality or other party or its affiliates in advertising, publicity, enforceability of the remainder of this or otherwise; or (ii) represent (directly or Agreement will not be affected or impaired. indirectly) that any product or any service d) Where any form of the word “including” provided by the party has been approved or appears in this Agreement, it will be endorsed by the other. interpreted as if followed by the phrase 10) Electronic Documents. You consent to the “without limitation”. delivery of confirmations, any other required or e) Except as provided in Paragraph 10, all notices optional communication or agreement under any will be in writing and hand delivered or applicable law or regulation and any agreements or forwarded by registered or certified mail to the changes in the terms and conditions on the Trading parties at the addresses listed on the first page. Services, by e-mail, Web site or other electronic A copy also will be sent to the attention of our means, subject to compliance with any applicable General Counsel or to any other address which laws, rules or regulations. Any such documents that we designate in writing after the date of this are delivered to you electronically are deemed to Agreement. be “in writing.” If your signature or f) The headings in this Agreement are intended acknowledgment is required or requested with for convenience of reference and will not affect respect to any such document and any Authorized interpretation. User “clicks” in the appropriate , or takes such g) Each party acknowledges that a breach of any other action as may be indicated on the Trading provision of Paragraph 4, 8 or 9 of this Services, you will be deemed to have signed or Agreement will cause the other irreparable acknowledged the document to the same extent injury and damage. Therefore, injunctive relief and with the same effect as if you had signed the may be sought in addition to any other rights document manually. You acknowledge your and remedies which may be available to the understanding that you have the right to withdraw party at law or in equity. your consent to the electronic delivery and h) The individuals executing this Agreement each signature of documents at any time by providing represent and warrant that they are duly prior written notice. However, if you revoke your authorized by all necessary action to execute consent, your access to the Trading Services may this Agreement on behalf of their principals. be restricted or terminated. i) You agree to cooperate with any reasonable 11) General. request we may make in order to respond to eOption Electronic Access and Trading Agreement 6

any inquires made by any third-party service 15) Professional Trader Designation – The providers, exchanges, or other regulatory, self- Professional Trader designation relates to option regulatory or governmental authorities in trading only. If an account places an average of 390 connection with the Trading Services. orders per day over a three (3) month period, the j) This Agreement is deemed entered into in account will be designated as a Professional Glenview, Illinois and will be governed and Trader. Professional Trader designated accounts construed in all respects by the laws of the are subject to additional exchange fees and order State of Illinois, without giving effect to restrictions. principles of conflict of law. Any litigation or 16) Leveraged/Non‐Traditional ETF Disclosure - other dispute resolution between the parties Non-traditional ETPs employ sophisticated relating to this Agreement will take place only financial strategies and instruments, such as in the State of Illinois. The parties’ consent to leverage, futures, and derivatives, in pursuit of personal jurisdiction of and venue in the state their investment objectives. Leveraged and inverse and federal courts within that county. ETPs are considered risky. The use of leverage and k) Each party’s continuing obligations under this inverse strategies by a fund increases the risk to Agreement including those relating to the fund and magnifies gains or losses on the “Limitation of Liability; Indemnity” and “Data investment. You could incur significant losses even and Information” will survive the termination if the long-term performance of the underlying of this Agreement. showed a gain. Typically, these products 12) Direct Access Trading Risks. Although We have one-day investment objectives, and investors provide state-of-the-art, redundant systems, there should monitor such funds on a daily basis. Non- is the potential for delayed or missed executions traditional ETPs are generally categorized as during periods of market volatility. Periods of high leveraged, inverse, or leveraged-inverse: volatility and volume may result in executions at a) Leveraged - Uses financial derivatives and debt price levels different from those displayed at the to multiply the returns of an underlying index, time of entry. Direct Access trading provides you commodity, currency, or basket of assets. with the ability to direct your order to a specific Leveraged ETPs may include the terms exchange or market maker for execution. We are "double," "ultra," "triple," or similar language not responsible for the quality of execution for in their security name/description. Direct Access orders. The quality of executions you b) Inverse - Uses various derivatives to seek to receive with Direct Access may not be better than profit from the decline in the value of an non-directed orders. By entering orders via Direct underlying index, commodity, currency, or Access, you accept responsibility for all aspects of basket of assets; used typically to hedge the execution or non- execution you receive. exposure to downward markets. Inverse ETPs 13) Security Deposit. We may require certain option may include the term "contra," "short," or trading accounts to maintain a security deposit to similar language in their security be held as collateral for option exchange fee pass name/description. through amounts. The requirement of a security c) Leveraged-Inverse - Uses swaps, futures deposit may depend on several factors, including contracts, options, and other derivative but not limited to the type of trading or the instruments to seek to achieve a return that is particular exchange. a multiple of the opposite performance of the 14) Pattern Day Trader Designation. An account that underlying benchmark or index. Leveraged- conducts four (4) day trades in any consecutive five inverse ETPs may include a combination of (5) trading day period will be designated as a leveraged and inverse terms such as "ultra- Pattern Day Trader. Pattern Day Traders are short" in their security name/description. required to maintain at least $25,000 equity in d) The Financial Industry Regulatory Authority their account at all times. If the equity falls below and the Securities and Exchange Commission $25,000, a day trade margin call will be issued. If seek to warn retail investors of the risks the day trade margin call is not met, the account associated with investing in non-traditional may be restricted or liquidated. ETFs and issued an Investor Alert entitled "Leveraged and Inverse ETFs: Specialized eOption Electronic Access and Trading Agreement 7

Products With Extra Risks for Buy-and-Hold j) Non-traditional ETPs may suffer losses even Investors," which is available on FINRA's and though the benchmark currency, commodity, the SEC's web sites. or index has increased in value. Investment Investors who choose to invest in non-traditional returns of non-traditional ETPs may not ETPs should be aware of the risks, some of which correlate to price movements in the are outlined below: benchmark currency, commodity, or index the e) Non-traditional ETPs are complex products ETP seeks to track. that have the potential for significant loss of k) Some non-traditional ETPs may have a low principal and are not appropriate for all trading volume, which could impact an investors. Investors should consider their investor's ability to sell shares quickly. financial ability to afford the potential for a l) Non-traditional ETPs may be less tax efficient significant loss. than other ETPs. As with any potential f) Non-traditional ETPs seek investment results investment, an investor should consult with for a single day only. The effect of his or her tax advisor and carefully read the compounding and market volatility could have prospectus to understand the tax a significant impact upon the investment consequences of non-traditional ETPs. returns. Investors may lose a significant m) The specific risks associated with a particular amount of principal rapidly in these securities. ETP are detailed in the fund's prospectus. g) Non-traditional ETPs may be volatile under Additional risks may include adverse market certain market conditions. Investors holding condition risks, investment strategy risk, non-traditional ETPs over longer periods of aggressive investment techniques risk, time should monitor those positions closely concentration risk, correlation risk, due to the risk of volatility. counterparty risk, credit risk and lower- h) Non-traditional ETPs are focused on daily quality debt securities risk, energy securities investment returns, and their performance risk, equity securities risk, financial services over longer periods of time can differ companies risks, interest rate risk, inverse significantly from their stated daily objective. correlation risk, leverage risk, market risk, Investors may incur a significant loss even if non-diversification risk, shorting risk, small the index shows a gain over the long term. and mid-cap company risk, tracking error risk, i) Non-traditional ETPs use a variety of and special risks of exchange traded funds, derivative products in order to seek their among others. Investors should refer to the performance objectives. The use of leverage in ETP's prospectus to obtain a complete ETPs can magnify any price movements, discussion of the risks involved in that ETP resulting in high volatility and potentially before investing. significant loss of principal.

eOption Electronic Access and Trading Agreement 8

IN WITNESS WHEREOF, the parties have executed this agreement as of the date below.

Signature of Client:

Printed Name:

Date:

eOption

By:

Name and Title:

Date:

eOption Electronic Access and Trading Agreement 9

Pricing Schedule Direct Access Platform Fees:

Sterling Trader Pro $230.00 per month

DAS – Platform $130.00 per month

Active Webtrader $30.00 per month

Mobile App $40.00 per month

Data Fees: (Sterling Non‐Professional):

NYSE Level 1 $1.00 per month

AMEX/ARCA Level 1 $1.00 per month

NASDAQ Level 1 $1.00 per month

OPRA Level 1 $1.25 per month

OTCMarkets (Pink Sheets) Level 1 $5.00 per month

TSX Level 1 (CEG) $10.00 per month

Basic Business Wire News $30.00 per month

Data Fees (DAS Non‐Professional):

NYSE, AMEX Level 1 $3.00 per month

NASDAQ Level 1 $1.50 per month

OTCMarkets (Pink Sheets) Level 1 $15.00 per month

OPRA Level 1 $15.00 per month

TSX Level 1 $15.00 per month

News Headlines $15.00 per month

Option Exchange Fees (Non‐Professional): Option exchange fees and credits are passed through to users at cost. Rates vary depending on adding or removing liquidity, symbols traded, price of option and whether the underlying security is an ETF or index.

Stock and Option Destination Fees (Routes availability varies depending on platform)

See Below for Route Fees**

Regulatory Fees*

Trading Activity Fees (TAF) Applied to sell transactions only.

Stocks & ETFs $0.000119/share – maximum $5.95 per trade Options $0.002/contract

Options Regulatory Fees (ORF) $0.0382/contract SEC Transaction Fee (Sales Only) varies

*Fees subject to change without prior notice

eOption Electronic Access and Trading Agreement 10

DAS Routing Options Route Description Adding Liq Taking Liq OutBound Shares ARCAS SpeedRoute NYSEARCA 0.0022 (0.0032) (0.0040) ARCAS SpeedRoute GlobalOTC (0.0020) (0.0040) (0.0040) Dash Financial (0.0020) (0.0020) (0.0020) ETMM Etrade MARKET MAKER (0.0019) (0.0019) (0.0019) MNGD Apex MARKET MAKER (0.0015) (0.0015) (0.0015) NITE Virtu MARKET MAKER (0.0015) (0.0015) (0.0015) NQBS SpeedRoute Boston exchange (0.0035) (0.0035) (0.0035) NSDQS NASDAQ 0.0013 (0.0035) (0.0035) NYSS SpeedRoute NYSE (0.0020) (0.0039) (0.0039) OTPKS SpeedRoute OTCBB (0.0013) (0.0013) (0.0013) PBAT PDQ Coda BYX (0.0029) (0.0013) (0.0029) PDQ PDQ Coda (0.0018) (0.0018) (0.0018) PEDG PDQ Coda EDGA (0.0015) (0.0010) (0.0015) PMID PDQ Coda Mid Route (0.0018) (0.0018) (0.0018) PUMA Puma Capital (0.0015) (0.0015) (0.0015) SMAT Smart Router (0.0015) (0.0015) (0.0015) SFAN SPDR Fan 0.0020 (0.0030) (0.0030) SNSX NSX Exchange (0.0030) (0.0030) (0.0030) SPDA SpeedRoute Post Only 0.0022 NA NA SPDR SpeedRoute (0.0015) (0.0015) (0.0015) SPDRX Mid Route (0.0013) (0.0013) (0.0013) TSGM Two Sigma (0.0019) (0.0019) (0.0019) SFAN SpeedRoute Aggressive Sweeps and 0.0021 (0.0030) (0.0030) Posts

eOption Electronic Access and Trading Agreement 11

Sterling Routing Options Adding Outbound Route Description Liq Taking Liq Shares ARCA Apex NYSE ARCA 0.0020 (0.0035) (0.0035) ARCAEDGE SpeedRoute EDGE (0.0015) (0.0010) (0.0015) ARCAONLY OES ARCA 0.0020 (0.0035) (0.0035) CITAVWAP Citadel VWAP (0.0090) (0.0090) (0.0090) CTDL Citadel Market Maker (0.0019) (0.0019) (0.0019) CTDLNH Citadel Not Held** 0.0000 0.0000 0.0000 DASH Dash Financial* (0.0020) (0.0020) (0.0020) ETMM Etrade Market Maker (0.0019) (0.0019) (0.0019) ETRF Etrade Market Maker OTCBB* (0.0019) (0.0019) (0.0019) MNGD Apex Market Maker (0.0015) (0.0015) (0.0015) NITE Virtu Market Maker (0.0015) (0.0015) (0.0015) NSDQ NASDAQ 0.0013 (0.0035) (0.0035) PDQARCA PDQ ARCA 0.0020 (0.0035) (0.0040) PDQECN PDQ NYSEARCA reserve allowed 0.0020 (0.0035) (0.0040) PDQMID PDQ Coda Mid Route (0.0018) (0.0018) (0.0018) PDQSMART PDQ Coda (0.0018) (0.0018) (0.0018) RGLBATS PDQ Coda BYX (0.0029) (0.0013) (0.0029) RGLEDGA PDQ Coda EDGA (0.0015) (0.0010) (0.0015) SFAN SPDR Fan 0.0020 (0.0030) (0.0030) SFAN SpeedRoute Aggressive Sweeps and Posts* 0.0021 (0.0030) (0.0030) SNSX NSX Exchange* (0.0030) (0.0030) (0.0030) SPDR SpeedRoute (0.0015) (0.0015) (0.0015) SPDRARCA SpeedRoute NYSEARCA 0.0022 (0.0032) (0.0040) SPDRARCAPO SpeedRoute Post Only 0.0022 NA NA SPDRJACK SpeedRoute passively pegs pieces of order to lit exchanges (0.0020) (0.0020) (0.0020) SPDRKODK SpeedRoute as a mid‐only, order never displayed (0.0020) (0.0020) (0.0020) SPDRKOMO Routes to Speedroute as Hide & Sweep when marketable (0.0020) (0.0020) (0.0020) SPDRMED Routes to SpeedRoute with 12% percentage of volume (0.0020) (0.0020) (0.0020) SPDRNYSE SpeedRoute NYSE (0.0020) (0.0039) (0.0039) SPDRPNK1 SpeedRoute GlobalOTC (0.0020) (0.0040) (0.0040) SPDRPUMA Puma Capital (0.0015) (0.0015) (0.0015) SPDRX SpeedRoute Mid Route (0.0013) (0.0013) (0.0013) SPRDNQBX SpeedRoute Boston exchange (0.0035) (0.0035) (0.0035) SPRDPAS SpeedRoute with 9% percentage of volume (0.0020) (0.0020) (0.0020) TSGM Two Sigma Market Maker* (0.0019) (0.0019) (0.0019) TWAP Cowen TWAP (0.0020) (0.0020) (0.0020) VWAP Cowen VWAP (0.0020) (0.0020) (0.0020)

* Currently unavailable on Sterling

**Market or limit order in which the customer does not desire to transact automatically at the inside market (market held) but instead has given the trader or floor broker (listed stock) time and price discretion in transacting on a best- efforts basis. This will not hold the broker responsible for missing the price within the limits (limit not held) or obtaining a worse price.