September 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 stock 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 Group - Sofia Bursa de Valori Bucuresti SA of India Nairobi Securities Exchange Nasdaq CME Group NZX Ltd Deutsche Bourse Philippine Stock Exchange Ltd TMX Group Hellenic Exchanges SA

INDEX VALUE

Index Value 28/09/2018 49534.73 31/08/2018 50368.89 Closing all-time high - 12 March 2018 53408.58 Source: FTSE Group, data as at 28 September 2018

PERFORMANCE

Capital Return YTD (USD%) 4.3 1M (USD%) -1.7 12M (USD%) 9.5 Source: FTSE Group, data as at 28 September 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) (%) (%) B3 SA Brazil 11,547 10.9 -14.7 -22.6 Warsaw Stock Exchange Poland 324 6.9 -10.8 -1.5 NZX Ltd 196 4.7 -7.2 -13.3 Moscow Exchange Russia 2,111 2 -21.6 -26 JSE South Africa 959 1.8 -9.5 22.6 Bolsa Mexicana de Valores SAB de CV Mexico 848 1.3 18.3 22 Bursa Malaysia Malaysia 976 1.1 14.5 20.9 Hong Kong Exchanges & Clearing Hong Kong 35,491 0.6 -6.7 6.5 TMX Group Limited Canada 3,682 -0.1 19.3 19 Euronext France 4,579 -0.1 5.8 8.1 S.C. Bursa de Valori Bucuresti S.A. Romania 50 -0.3 -12.2 -22.3 Singapore Exchange Singapore 4,425 -0.3 -3.1 -0.9 London Stock Exchange Group United Kingdom 18,631 -0.5 16.6 16.4 Japan Exchange Group Japan 9,339 -1.3 0.1 -1.4 Bolsas y Mercados Espanoles Spain 2,464 -1.5 1.4 -6.3 Intercontinental Exchange USA 42,691 -1.8 6.1 9 Bulgarian Stock Exchange Bulgaria 12 -1.8 9.2 22.8 Hellenic Exchanges SA Greece 283 -2.5 -17 -9.1 CME Group USA 57,720 -2.6 16.5 25.4 Deutsche Boerse Germany 25,013 -3.2 15.3 23.6 Dubai Financial Market United Arab Emirates 402 -3.7 -18.3 -17.6 Philippine Stock Exchange Philippines 296 -4.3 -27.4 -26.2 Cboe Global Markets USA 10,698 -4.8 -23 -10.8 ASX Australia 8,911 -5.8 7.3 12 BSE India 98 -9.7 -33.9 -37 Nasdaq USA 9,885 -10.1 11.7 10.6 Multi Commodity Exchange of India India 140 -18.7 -33.5 -40.3 Nairobi Securities Exchange Kenya 34 -19.7 -29.3 -25.9 Source: FTSE Group, data as at 28 September 2018

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

Constituent Name Country Currency 1M Performance (%) YTD Performance 12M Performance (%) (%) B3 SA Brazil BRL 7.5 2.7 -2.3 Warsaw Stock Exchange Poland PLN 7.1 -5.4 -0.3 NZX Ltd New Zealand NZD 4.8 -0.5 -5.5 Bursa Malaysia Malaysia MYR 1.8 17.1 18.5 Japan Exchange Group Japan JPY 1.1 1 -0.6 S.C. Bursa de Valori Bucuresti S.A. Romania RON 0.4 -9.4 -19.9 Hong Kong Exchanges & Clearing Hong Kong HKD 0.3 -6.6 6.7 Euronext France EUR 0.1 9.3 10 Singapore Exchange Singapore SGD -0.5 -0.9 -0.3 London Stock Exchange Group United Kingdom PNC -0.8 20.9 19.7 TMX Group Limited Canada CAD -0.9 23.1 23 Bolsa Mexicana de Valores SAB de CV Mexico MXN -0.9 13 25.6 Moscow Exchange Russia RUB -0.9 -10.8 -15.8 Bolsas y Mercados Espanoles Spain EUR -1.3 4.9 -4.7 Bulgarian Stock Exchange Bulgaria BGN -1.6 12.9 25 JSE South Africa ZAR -1.7 3.5 28.5 Intercontinental Exchange USA USD -1.8 6.1 9 Hellenic Exchanges SA Greece EUR -2.3 -14.2 -7.5 CME Group USA USD -2.6 16.5 25.4 Deutsche Boerse Germany EUR -3 19.2 25.8 Philippine Stock Exchange Philippines PHP -3.3 -21.5 -21.5 Dubai Financial Market United Arab Emirates AED -3.7 -18.3 -17.6 Cboe Global Markets USA USD -4.8 -23 -10.8 ASX Australia AUD -5.9 16 21.4 BSE India INR -7.7 -24.9 -30 Nasdaq USA USD -10.1 11.7 10.6 Multi Commodity Exchange of India India INR -16.9 -24.5 -33.7 Nairobi Securities Exchange Kenya KES -19.8 -31 -27.7 Source: FTSE Group, data as at 28 September 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 -1.7 0.1 -3.2 4.3 9.5 53.1 81.9 890.7 ASX -5.8 -3.2 7.1 7.3 12.0 73.2 42.7 585.8 B3 SA 10.9 10.2 -27.0 -14.7 -22.6 110.6 5.4 - Bolsa Mexicana de Valores SAB de CV 1.3 20.7 7.5 18.3 22.0 30.8 -14.0 - Bolsas y Mercados Espanoles -1.5 -2.1 -4.4 1.4 -6.3 -4.1 1.8 - BSE -9.7 -23.1 -18.7 -33.9 -37.0 - - - Bulgarian Stock Exchange -1.8 2.0 -1.5 9.2 22.8 165.6 79.6 - Bursa Malaysia 1.1 4.9 1.6 14.5 20.9 58.6 31.1 - Cboe Global Markets -4.8 -7.8 -15.9 -23.0 -10.8 43.1 114.2 - CME Group -2.6 3.8 5.2 16.5 25.4 83.5 137.8 - Deutsche Boerse -3.2 0.6 -1.5 15.3 23.6 55.9 78.1 647.6 Dubai Financial Market -3.7 -5.2 -12.0 -18.3 -17.6 -45.5 -55.4 - Euronext -0.1 3.5 -9.9 5.8 8.1 54.7 - - Hellenic Exchanges SA -2.5 -3.4 -8.3 -17.0 -9.1 4.5 -29.3 11.0 Hong Kong Exchanges & Clearing 0.6 -4.8 -12.0 -6.7 6.5 25.5 78.6 1937.5 Intercontinental Exchange -1.8 1.8 3.3 6.1 9.0 59.3 106.4 - Japan Exchange Group -1.3 -6.2 -5.9 0.1 -1.4 20.2 57.4 - JSE 1.8 -4.9 -28.1 -9.5 22.6 21.4 34.0 - London Stock Exchange Group -0.5 1.3 3.3 16.6 16.4 63.2 160.8 1122.5 Moscow Exchange 2.0 -14.3 -27.1 -21.6 -26.0 21.7 -22.5 - Multi Commodity Exchange of India -18.7 -11.0 -7.2 -33.5 -40.3 -33.5 56.0 - Nairobi Securities Exchange -19.7 -23.0 -35.9 -29.3 -25.9 -11.4 - - Nasdaq -10.1 -6.0 -0.5 11.7 10.6 60.9 167.4 - NZX Ltd 4.7 -3.4 -4.2 -7.2 -13.3 17.9 -30.1 - Philippine Stock Exchange -4.3 -3.0 -23.4 -27.4 -26.2 -44.9 -48.7 - S.C. Bursa de Valori Bucuresti S.A. -0.3 0.0 -16.2 -12.2 -22.3 -20.4 -16.1 - Singapore Exchange -0.3 2.6 -4 -3.1 -0.9 9.1 -6.8 1016.7 TMX Group Limited -0.1 2.4 15.7 19.3 19 91.9 40.7 Warsaw Stock Exchange 6.9 23.4 0 -10.8 -1.5 20.2 -1.1 Source: FTSE Group and Thomson Datastream, data as at 28 September 2018

PERFORMANCE OF QUARTER AGAINST PREVIOUS QUARTER (USD CAPITAL RETURN)

Q3 2018 Q2 2018 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 0.1 -3.3 ASX -3.2 10.6 B3 SA 10.2 -33.8 Bolsa Mexicana de Valores SAB de CV 20.7 -10.9 Bolsas y Mercados Espanoles -2.1 -2.4 BSE -23.1 5.7 Bulgarian Stock Exchange 2.0 -3.4 Bursa Malaysia 4.9 -3.1 Cboe Global Markets -7.8 -8.8 CME Group 3.8 1.3 Deutsche Boerse 0.6 -2.0 Dubai Financial Market -5.2 -7.2 Euronext 3.5 -13.0 Hellenic Exchanges SA -3.4 -5.1 Hong Kong Exchanges & Clearing -4.8 -7.5 Intercontinental Exchange 1.8 1.4 Japan Exchange Group -6.2 0.4 JSE -4.9 -24.4 London Stock Exchange Group 1.3 2.0 Moscow Exchange -14.3 -14.9 Multi Commodity Exchange of India -11.0 4.3 Nairobi Securities Exchange -23.0 -16.7 Nasdaq -6.0 5.9 NZX Ltd -3.4 -0.9 Philippine Stock Exchange -3.0 -21.1 S.C. Bursa de Valori Bucuresti S.A. 0.0 -16.2 Singapore Exchange 2.6 -6.4 TMX Group Limited 2.4 13 Warsaw Stock Exchange 23.4 -18.9 Source: FTSE Group and Thomson Datastream, data as at 28 September 2018

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

Q3 2018 Q3 2017 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 0.1 6.8 ASX -3.2 0.0 B3 SA 10.2 27.0 Bolsa Mexicana de Valores SAB de CV 20.7 -4.3 Bolsas y Mercados Espanoles -2.1 -4.3 BSE -23.1 -10.0 Bulgarian Stock Exchange 2.0 67.3 Bursa Malaysia 4.9 -2.7 Cboe Global Markets -7.8 17.8 CME Group 3.8 8.3 Deutsche Boerse 0.6 2.9 Dubai Financial Market -5.2 0.0 Euronext 3.5 17.4 Hellenic Exchanges SA -3.4 -7.0 Hong Kong Exchanges & Clearing -4.8 4.0 Intercontinental Exchange 1.8 4.2 Japan Exchange Group -6.2 -2.3 JSE -4.9 -1.9 London Stock Exchange Group 1.3 8.5 Moscow Exchange -14.3 14.0 Multi Commodity Exchange of India -11.0 -5.5 Nairobi Securities Exchange -23.0 13.1 Nasdaq -6.0 8.5 NZX Ltd -3.4 4.0 Philippine Stock Exchange -3.0 -2.1 S.C. Bursa de Valori Bucuresti S.A. 0.0 -2.0 Singapore Exchange 2.6 2.1 TMX Group Limited 2.4 3.8 Warsaw Stock Exchange 23.4 -7 Source: FTSE Group and Thomson Datastream, data as at 28 September 2018

1 Year Performance (USD Capital Return)

Constituents 1 Year Performance Constituents 1 Year Excess Capital Returns ASX 12.0 ASX 2.5 B3 SA -22.6 B3 SA -32.1 Bolsa Mexicana de Valores SAB de CV 22.0 Bolsa Mexicana de Valores SAB de CV 12.5 Bolsas y Mercados Espanoles -6.3 Bolsas y Mercados Espanoles -15.8 BSE -37.0 BSE -46.5 Bulgarian Stock Exchange 22.8 Bulgarian Stock Exchange 13.3 Bursa Malaysia 20.9 Bursa Malaysia 11.4 Cboe Global Markets -10.8 Cboe Global Markets -20.3 CME Group 25.4 CME Group 15.9 Deutsche Boerse 23.6 Deutsche Boerse 14.1 Dubai Financial Market -17.6 Dubai Financial Market -27.1 Euronext 8.1 Euronext -1.4 Hellenic Exchanges SA -9.1 Hellenic Exchanges SA -18.6 Hong Kong Exchanges & Clearing 6.5 Hong Kong Exchanges & Clearing -3.0 Intercontinental Exchange 9.0 Intercontinental Exchange -0.5 Japan Exchange Group -1.4 Japan Exchange Group -10.9 JSE 22.6 JSE 13.1 London Stock Exchange Group 16.4 London Stock Exchange Group 6.9 Moscow Exchange -26.0 Moscow Exchange -35.5 Multi Commodity Exchange of India -40.3 Multi Commodity Exchange of India -49.8 Nairobi Securities Exchange -25.9 Nairobi Securities Exchange -35.4 Nasdaq 10.6 Nasdaq 1.1 NZX Ltd -13.3 NZX Ltd -22.8 Philippine Stock Exchange -26.2 Philippine Stock Exchange -35.7 S.C. Bursa de Valori Bucuresti S.A. -22.3 S.C. Bursa de Valori Bucuresti S.A. -31.8 Singapore Exchange -0.9 Singapore Exchange -10.4 TMX Group Limited 19.0 TMX Group Limited 9.5 Warsaw Stock Exchange -1.5 Warsaw Stock Exchange -11.0 Source: FTSE Group, data as at 28 September 2018

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

12 Mar 2018: FTSE Mondo Visione 29 Mar 2018: CME Gr oup 30 May 2018: Deutsche 54,000 Exchanges Index reaches new Inc announces NEX Boerse AG agrees to acquire all-time record closing high of 53,408.58 Group plc acquisition GTX 's ECN business, expanding 14 2018: Nasdaq to its participation in the global FX acquire Cinnober to 29 Nov 2017: London Stock market strenghen its position as Exchange Group announces one of the world's leading market infrastructure 52,000 CEO Xavier Rolet will step down immediately technology providers

18 Dec 2017: CME launches its CME 50,000 bitcoin futures contract (BTC)

48,000 18 Jun 2018: Singapore Exchange granted license 09 Feb 2018: Indian Exchanges extension to continue listing raises concern of liquidity flight and trading of SGX Nifty arising from use of their data contracts beyond Aug 2018 46,000 to create products traded and Index Value Index settled outside India 05 Apr 2018: 14 Aug 2018: Euronext Intercontinental announces acquisition of Exchange enters into approximately 8% of 10 Dec 2017: CBOE Global 44,000 agreement to acquire additional interest in Markets, Inc's Cboe bitcoin Chicago Stock Exchange FastMatch. futures (XBT) start trading as planned

23 Jul 2018: Intercontinental 42,000 Exchange completes 26 Oct 2017: Deutsche 27 Mar 2018: Euronext Boerse AG CEO Carsten completes The Irish Stock TMC Bonds LLC acquisition Kengeter informs Exchange plc acquisition Supervisory Board he will 18 Jul 2018: Intercontinental step down at year-end Exchange completes Chicago 40,000 Stock Exchange acquisition 19 Oct 2017: London Stock Exchange Group starts search for successor to CEO Xavier Rolet

38,000

Source: FTSE Group, data as at 28 September 2018

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

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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 Apr-18 Dec-02 Dec-11 Dec-13 Dec-15 Dec-17 Dec-01 Dec-03 Dec-04 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-12 Dec-14 Dec-16 Aug-01 Aug-02 Aug-03 Aug-04 Aug-05 Aug-06 Aug-07 Aug-08 Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18

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 28 September 2018

1 YEAR CONSTITUENT PERFORMANCE (USD CAPITAL RETURN)

30% 25.4 22.8 23.6 22.0 20.9 22.6 19.0 20% 16.4 12.0 10.6 8.1 9.0 10% 6.5

0% -1.4 -0.9 -1.5 -10% -6.3 -10.8 -9.1 -13.3 -20% -17.6 -22.6 -22.3 -30% -26.0 -25.9 -26.2

-40% -37.0 -40.3 -50% 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 28 September 2018

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

20% 15.9 13.3 14.1 12.5 11.4 13.1 9.5 10% 6.9 2.5 1.1 0% -0.5 -1.4 -3.0 -10% -10.9 -10.4 -11.0 -20% -15.8 -20.3 -18.6 -22.8 -30% -27.1 -32.1 -31.8 -40% -35.5 -35.4 -35.7

-50% -46.5 -49.8 -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 28 September 2018

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