Introduction With the release of WebICE 12.675, significant enhancements to the options trading experience have been implemented. These enhancements relate to the following areas:

• Options Watch Tab • Call and Put Viewer • Options Order Ticket and Auto-response to RFQ / Trade • WhenTech Price model integration This beta version of WebICE® is available by clicking HERE and selecting the JWS 12.675 version

For more information on any ICE feature, please contact your ICE representative or the ICE Helpdesk at 770.738.2101. Submit suggestions via the new ‘Ideas’ feature on WebICE. To enable: click the ‘Ideas’ icon in the upper right hand corner of your WebICE screen.

Options Watch Tab One of the main improvements is to provide a higher level of visibility for options by introducing the new Options tab. Within the Options tab, users now have the ability to open multiple watch tabs and call/put viewers. The watch tab aggregates all the information across various products and/or strips into one area to provide a centralized location for all related markets.

• Toggle to view All or Live Only markets • Open an RFQ or Cross-order 1 Option tab tool bar • Perform advanced Searches • Kill/Hold/Active All • Order management This is the top area separated by a thick white line. It contains the prioritized markets. Prioritized market contains user's own orders, user 2 Priority markets company's orders, user's own RFQs and markets that the user manually pinned to watch. This area (below the thick white line) displays all available markets based on tab level subscription and displays RFQs, trades, and price 3 Markets updates. It is highly customizable and user can have multiple watch tabs customized. Right click to create additional watch tab or customize selected watch 4 Watch Tab tabs by products and strips. In addition, user can setup clearing account and auto-response logics. The new call/put viewer is distinguished from the watch tab by the icon 5 Call/Put viewer within the tab. Users have the ability to create multiple call/put viewers. This area displays all the trades between various watch tabs in real 6 Trade Ticker time. Users have the ability to find or follow the trade by clicking on the action icons. This area displays all the RFQs between various watch tabs in real time. Users have the ability to find or directly respond the market by clicking 7 RFQ Ticker on the action icons. When a new flex option is being added, it will also display and update in here as well.

Activity Alerts This update also provides an alerting feature when there is a new trade or RFQ. There are three event types that will trigger alerts and bring additional visibility across various options products:

• Response to user’s own RFQ highlighted in blue • New Trades highlighted in red • New RFQs highlighted in yellow The alerts are displayed in the Watch Tab list and the corresponding tabs are highlighted in different colors accordingly. There is also a counter appended to the Watch sub-tab showing the number of unacknowledged new alerts.

Priority Markets in Watch Tab This Priority Market area will aggregate all the related markets where users have an active or inactive order, their company has active or inactive orders, user’s RFQs, and specific markets the user has pinned to watch. These markets will move to the top of the option watch tab with a divider line. There is a new column, “Status”, which is shown as the first default column. A tag of applicable color within the Status column will indicate:

• Yellow – the user has an active order on the market • Orange – the company has an active order • Solid –the user’s (or the company’s) quote is the best • Hollow –none of the user’s (or the company’s) quotes are the best or are inactive • Vertical Tag – user pinned markets to watch

Call / Put Viewer Tab The new Live Call/Put Viewer allows a user to create more than one Live Call / Put chain across a variety of products in a tab. Additionally, all the activity alerts in the Options watch tab such as New RFQ, New Trade, and when user’s own RFQ gets a first response are incorporated in the call/put viewer.

This multi-functional scroll bar helps the user navigate to a specific 1 Call/Put Navigation Infobar Call/Put chain and provides information about new activities such as RFQs and Trades on the scroll bar. Allows a user to hide the product selector, Future Price, and toolbar 2 Toolbar Display area of the option chain. Kill All, Hold All, Activate All Provides ability to perform order maintenance on all orders at one 3 Orders time for that particular tab. Provides ability to directly modify orders in one screen such as 4 Order Management price, status, and quantity. Provides the ability to change product, strips, and add or remove 5 Product Selector additional call/put chains. 6 Futures Price Display corresponding futures price 7 Toolbar header Search by strike or filter orders by various criteria Status column indicates user’s orders, user company’s orders, user 8 Status pinned markets, as well as notifications on new RFQs or Trades.

Call/Put Navigation Infobar This multi-functional scroll bar helps users navigate to a specific Call/Put chain and provides information about new activities such as RFQs and Trades directly on the scroll bar.

The nav-bar shows a list of option chains in the current tab. The visible area of the option chains are indicated in gray. In the screen print above, B-Z12 and BNX-Z12 are visible on the screen. To navigate to a different option chain from the nav-bar, the user can:

• Click on the short description to jump to the desired chain • Slide the gray box to the left or right or click the left or right arrow to navigate to a different visible set of option chains Activity Alerts Similar to the Options watch tab, activity alerts are also implemented in the Call/Put Viewer. There are three alert event types: trades, RFQs and when user’s RFQ gets the first response. • Blue–User’s Own RFQ gets the first response • Red – New Trades • Yellow – New RFQs There is also a counter appended to the Call/Put sub-tab showing the number of new alerts.

If there is a new trade, the Status column background will change to red. If there is a new RFQ, the Status column background will change to yellow. If user’s own RFQ get a response, it will change the Status column background to blue.

Activity Alerts in Navigation Infobar

If there are new activities, the background color of the nav-bar will change accordingly. Hover over the strip in the nav-bar to see the actual strike(s) of the new RFQ or Trades.

Options Order Ticket and Auto-Response

• Hit/Lift and real-time market prices When there is an active order in the market, there will be a “Hit” icon or “Lift” icon. The live bid qty, bid, last price, offer, offer qty of the structure are shown between the hit and lift icons in real-time. • Manage Order This section is expanded by default and a user can modify the order detail directly. • Analytics If the user has WhenTech model integrated, the Greeks and Theo price of the structure will appear below manage order area. • Reserve Quantity Next to the quantity shortcut there is an expand button to allow a user to enter additional total reserve quantity on the bid and/or offer side. • 4-way navigation button Left arrow – spread the bid price by user specified ticks away from theo – Right spread arrow the offer from the user specified ticks away from theo – U increase p a rro w both the bid and offer prices by 1 tick – D decrease both the bid and offer prices by 1 tick user clicks on left and right arrow simultaneously.

Auto Response Management The order ticket can be configured to open automatically based on user customized market events. From Watch tab(s) or call/put tab(s), users have the ability to determine which event(s) should automatically popup a ticket. This can be setup by right-clicking on the sub- tab, selecting “Edit Tab…” option, and selecting the “Auto-Response” tab.

Order Label Types There will be corresponding color background highlights on the commodity code area to show RFQs, Trades, and/or first responses to My RFQ alerts. New trades will be marked red, new RFQs will be marked yellow and when my RFQ receives a response will be marked blue. If the user manually clicks on bid (offer) of a market that is not already in the ticket window, it will have a black tag.

WhenTech Pricing Integration WhenTech is a market leading software and information provider for options market participants. WebICE now offers the ability to integrate with WhenTech and populate related theoretical prices and Greeks in Options Watch tabs, Call/Put Viewers, and Order Tickets.

In order to link your WebICE account with a WhenTech account, please contact your WebICE Account manager or WebICE support.

Pricing Services Connection Status If the pricing service preference is selected, the user will see a Pricing Service connection status icon in the bottom tray. The user can click on the pricing icon to reconnect.

Analytics Data Fields

• Theo Price This field will be populated with the theoretical price returned by WhenTech. If the TheoPrice is > than Offer, the font color will display green. If TheoPrice is < Bid, the font color will display red. • Delta For structures without a hedge, this field will be populated with the theoretical delta. For structures with a hedge, the delta field will display the theoretical delta followed by the delta differential in parenthesis. Delta differential is defined as the theoretical delta – hedge delta. • Gamma, Vega and Theta Greeks will be the theoretical values received by WhenTech. For Vega and Theta, the value will be represented in cents.

Analytics Panel

Adding the "Show Analytics Panel" selection under the Watch tab right-click menu will enable an analytics panel to display the detail of the analytics data.

Call/Put Tab Theo Price, Delta, Gamma, Vega and Theta will be available in the option chains and updated in the similar fashion as in the Watch Tab.

Analytics in Order Ticket If the user has WhenTech (or another analytic model integrated), the Greeks and Theo price for the structure will appear below the manage my order area.

Real-time analytic updates are implemented for open tickets in the priority queue for updates. Theo price will be displayed in the middle of the 4-way navigation buttons. Clicking on the Theo price will replace the bid and offer value with the user defined +/- spread increments.

Links To Supporting Documents

• Options User Guide - Part 1 Option Watch Tab • Options User Guide - Part 2 Call Put Tab • Options User Guide - Part 3 Option Order Ticket and Auto Response • Options User Guide - Part 4 WhenTech Pricing Integration

For More Information

Contact the ICE Helpdesk at [email protected] or +1 770 738 2101, ICE Emissions Desk +44 207 065 7796 or schedule a personal visit from an ICE Technical Account Manager by clicking here. You may also submit suggestions via the new ‘Ideas’ feature on WebICE®. To enable: click the ‘Ideas’ icon in the upper right hand corner of your WebICE screen. All ‘Ideas’ are reviewed by ICE staff and considered for inclusion in subsequent releases.

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