December 2016 – 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:

Australian Securities Exchange Ltd Hong Kong Exchanges and Clearing Ltd BATS Global Markets IntercontinentalExchange BM&F Bovespa Japan Exchange Group Bolsa Mexicana de Valores SA Johannesburg Stock Exchange Ltd Bolsa y Mercado Espanoles London Stock Exchange Group Bulgarian Stock Exchange - Sofia Moscow Exchange Bursa de Valori Bucuresti SA Multi Commodity Exchange of India Bursa Malaysia Nairobi Securities Exchange CBOE Holdings Nasdaq CME Group New Zealand Exchange Ltd Deutsche Bourse Philippine Stock Exchange Dubai Financial Market Singapore Exchange Ltd Euronext TMX Group Hellenic Exchanges SA Warsaw Stock Exchange

INDEX VALUE

Index Value

30/12/2016 36814.56

30/11/2016 36781.05

Closing all-time high - 6 December 2007

48486.38

Source: FTSE Group, data as at 30 December 2016

PERFORMANCE

Capital Return

YTD (USD%) 7.7

1M (USD%) 0.1

12M (USD%) 7.7

Source: FTSE Group, data as at 30 December 2016

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

Constituent Name Country Net Market Cap (USDm)

1M Performance (%)

YTD Performance (%)

12M Performance (%)

Bulgarian Stock Exchange Bulgaria 5 12.8 29.6 29.6

Moscow Exchange Russia 2,795 12.3 64.4 64.4

Nairobi Securities Exchange Kenya 36 9.8 -21.2 -21.2

Dubai Financial Market United Arab Emirates 545 9.6 1.6 1.6

Warsaw Stock Exchange Poland 257 7.9 5.1 5.1

CBOE Holdings USA 6,014 7.2 13.9 13.9

JSE South Africa 1,044 6.5 46.4 46.4

TMX Group Limited Canada 2,031 5.9 107 107

Euronext France 2,891 5.9 -19.5 -19.5

BATS Global Markets USA 2,390 5.6 - -

Multi Commodity Exchange of India India 324 5.1 33.5 33.5

London Stock Exchange Group United Kingdom 11,352 4.9 -11 -11

Nasdaq USA 8,709 4.7 15.4 15.4

Bursa Malaysia Malaysia 681 4.1 1.4 1.4

Hellenic Exchanges SA Greece 310 3.2 -5.5 -5.5

BM&F Bovespa Brazil 8,741 3.2 84.2 84.2

NZX Ltd New Zealand 196 2.3 0 0

CME Group USA 36,822 2.2 27.3 27.3

Intercontinental Exchange USA 33,498 1.8 10.1 10.1

Deutsche Boerse Germany 15,271 1.1 -7.5 -7.5

ASX Australia 6,910 0.2 16.6 16.6

S.C. Bursa de Valori Bucuresti S.A. Romania 52 -0.1 3.8 3.8

Bolsa Mexicana de Valores SAB de CV Mexico 786 -0.4 0.1 0.1

Singapore Exchange Singapore 4,080 -2.8 -8.7 -8.7

Bolsas y Mercados Espanoles Spain 2,271 -3 -12.5 -12.5

Japan Exchange Group Japan 7,862 -3.7 -9.8 -9.8

Philippine Stock Exchange Philippines 352 -6.5 -17.9 -17.9

Hong Kong Exchanges & Clearing Hong Kong 28,766 -10.2 -7.7 -7.7

Source: FTSE Group, data as at 30 December 2016

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

Constituent Name Country Currency 1M Performance (%)

YTD Performance (%)

12M Performance (%)

Bulgarian Stock Exchange Bulgaria BGN 13.4 33.5 33.5

Nairobi Securities Exchange Kenya KES 10.6 -21.1 -21.1

Dubai Financial Market United Arab Emirates AED 9.6 1.6 1.6

Warsaw Stock Exchange Poland PLN 7.5 11.1 11.1

CBOE Holdings USA USD 7.2 13.9 13.9

Euronext France EUR 6.5 -17.1 -17.1

Moscow Exchange Russia RUB 6.1 37.4 37.4

London Stock Exchange Group United Kingdom PNC 6 6.2 6.2

TMX Group Limited Canada CAD 5.6 99.8 99.8

BATS Global Markets USA USD 5.6 - -

Nasdaq USA USD 4.7 15.4 15.4

Bursa Malaysia Malaysia MYR 4.6 6 6

Multi Commodity Exchange of India India INR 4.2 36.9 36.9

NZX Ltd New Zealand NZD 4 -1.9 -1.9

JSE South Africa ZAR 3.9 29.2 29.2

Hellenic Exchanges SA Greece EUR 3.8 -2.7 -2.7

ASX Australia AUD 2.2 17.1 17.1

CME Group USA USD 2.2 27.3 27.3

Intercontinental Exchange USA USD 1.8 10.1 10.1

Deutsche Boerse Germany EUR 1.7 -4.7 -4.7

S.C. Bursa de Valori Bucuresti S.A. Romania RON 1.4 7.4 7.4

Bolsa Mexicana de Valores SAB de CV Mexico MXN 0.2 19.4 19.4

BM&F Bovespa Brazil BRL -0.7 51.5 51.5

Japan Exchange Group Japan JPY -1.4 -12.6 -12.6

Singapore Exchange Singapore SGD -1.9 -7 -7

Bolsas y Mercados Espanoles Spain EUR -2.5 -9.9 -9.9

Philippine Stock Exchange Philippines PHP -6.5 -13.3 -13.3

Hong Kong Exchanges & Clearing Hong Kong HKD -10.2 -7.7 -7.7

Source: FTSE Group, data as at 30 December 2016

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

Source: FTSE Group, data as at 30 December 2016 © FTSE International Limited

26,000

28,000

30,000

32,000

34,000

36,000

38,000

40,000In

dex

Valu

e

26 Jul 2016: Deutsche Boerse AG shareholdersapprove merger with London Stock Exchange Group plc

14 Nov 2016: NASDAQnames Adena Friedman President and Chief Executive Officer, who also joins the Board of Directors, effective 1 January, 2017

23 Feb 2016: Deutsche Boerse AG and London Stock Exchange Group plc confirm talks about a potential "merger of equals"

01 Mar 2016: IntercontinentalExchange mulls counteroffer for London Stock Exchange Group plc

20 Jun 2016: BATS Global Markets Inc is added to FTSE Mondo Visione Exchanges Index

20 Dec 2016: Euronext announces exclusive talks with London Stock Exchange Group plc on potential acquisition of LCH Clearnet SA

04 May 2016: IntercontinentalExchange confirms it has no intention to bid for London Stock Exchange Group plc

10 Aug 2016: Deutsche BoerseAG shareholders tender over 75% of shares under exchange offer for London Stock Exchange Group plc merger

10 Oct 2016: Hong Kong Exchanges and Clearing Limited (HKEX) subsidiaries, Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Securities Clearing Company Limited (HKSCC), sign an agreement with Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing Corporation Limited (ChinaClear) to establish Shenzhen-Hong Kong Stock Connect

22 Jan 2016: ASX selects Digital Asset to develop distributed ledger technology solutions

04 Jul 2016: London Stock Exchange Group plc shareholders approve merger with Deutsche Boerse AG

26 2016: CBOE Holdingsagrees to acquire Bats Global Markets to strengthen its global position in innovative tradable products and services

1 Year Performance (USD Capital Return) Constituents 1 Year Performance ASX 16.6 BATS Global Markets - BM&F Bovespa 84.2 Bolsa Mexicana de Valores SAB de CV 0.1 Bolsas y Mercados Espanoles -12.5 Bulgarian Stock Exchange 29.6 Bursa Malaysia 1.4 CBOE Holdings 13.9 CME Group 27.3 Deutsche Boerse -7.5 Dubai Financial Market 1.6 Euronext -19.5 Hellenic Exchanges SA -5.5 Hong Kong Exchanges & Clearing -7.7 Intercontinental Exchange 10.1 Japan Exchange Group -9.8 JSE 46.4 London Stock Exchange Group -11.0 Moscow Exchange 64.4 Multi Commodity Exchange of India 33.5 Nairobi Securities Exchange -21.2 Nasdaq 15.4 NZX Ltd 0.0 Philippine Stock Exchange -17.9 S.C. Bursa de Valori Bucuresti S.A. 3.8 Singapore Exchange -8.7 TMX Group Limited 107.0 Warsaw Stock Exchange 5.1 Source: FTSE Group, data as at 30 December 2016

PERFORMANCE OF QUARTER AGAINST PREVIOUS QUARTER (USD CAPITAL RETURN) Constituent Name

Q4 2016 Performance

(%)

Q3 2016 Performance

(%) FTSE/MV Exchanges Index 0.6 6.0 ASX -2.3 8.2 BATS Global Markets 12.0 15.2 BM&F Bovespa -2.0 -7.9 Bolsa Mexicana de Valores SAB de CV -17.0 4.9 Bolsas y Mercados Espanoles -0.6 6.8 Bulgarian Stock Exchange 14.1 11.3 Bursa Malaysia -7.5 0.4 CBOE Holdings 13.9 -2.7 CME Group 10.4 7.3 Deutsche Boerse 0.9 -0.8 Dubai Financial Market -4.6 4.0 Euronext -3.1 15.9 Hellenic Exchanges SA 11.9 2.7 Hong Kong Exchanges & Clearing -10.1 8.7 Intercontinental Exchange 4.7 5.2 Japan Exchange Group -7.4 35.7 JSE 3.2 -7.9 London Stock Exchange Group -1.0 7.5 Moscow Exchange 2.4 14.0 Multi Commodity Exchange of India -8.0 36.9 Nairobi Securities Exchange -8.7 -20.7 Nasdaq -0.6 4.4 NZX Ltd -5.0 8.2 Philippine Stock Exchange -13.5 -1.2 S.C. Bursa de Valori Bucuresti S.A. -1.6 17.0 Singapore Exchange -8.8 -4 TMX Group Limited 16.3 10.8 Warsaw Stock Exchange -2 17.1

Source: FTSE Group, data as at 30 December 2016

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

Q4 2016 Performance

(%)

Q4 2015 Performance

(%) FTSE/MV Exchanges Index 0.6 5.7 ASX -2.3 16.1 BATS Global Markets 12.0 - BM&F Bovespa -2.0 -1.1 Bolsa Mexicana de Valores SAB de CV -17.0 -15.4 Bolsas y Mercados Espanoles -0.6 0.1 Bulgarian Stock Exchange 14.1 -11.7 Bursa Malaysia -7.5 6.2 CBOE Holdings 13.9 -3.2 CME Group 10.4 -2.3 Deutsche Boerse 0.9 2.8 Dubai Financial Market -4.6 -26.8 Euronext -3.1 20.8 Hellenic Exchanges SA 11.9 4.2 Hong Kong Exchanges & Clearing -10.1 12.3 Intercontinental Exchange 4.7 9.1 Japan Exchange Group -7.4 9.5 JSE 3.2 -11.5 London Stock Exchange Group -1.0 10.4 Moscow Exchange 2.4 2.6

Multi Commodity Exchange of India -8.0 -2.0

Nairobi Securities Exchange -8.7 19.2

Nasdaq -0.6 9.1

NZX Ltd -5.0 16.8

Philippine Stock Exchange -13.5 -7.7

S.C. Bursa de Valori Bucuresti S.A. -1.6 -17.2

Singapore Exchange -8.8 9.8

TMX Group Limited 16.3 -26.3 Warsaw Stock Exchange -2 -9.3

Source: FTSE Group, data as at 30 December 2016

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

* FTSE All-World Index rebased to 5000 on 17 August 2001 Source: FTSE Group, data as at 30 December 2016

0

5000

10000

15000

20000

25000

30000

35000

40000

45000

50000

Aug-

01De

c-01

Apr-

02Au

g-02

Dec-

02Ap

r-03

Aug-

03De

c-03

Apr-

04Au

g-04

Dec-

04Ap

r-05

Aug-

05De

c-05

Apr-

06Au

g-06

Dec-

06Ap

r-07

Aug-

07De

c-07

Apr-

08Au

g-08

Dec-

08Ap

r-09

Aug-

09De

c-09

Apr-

10Au

g-10

Dec-

10Ap

r-11

Aug-

11De

c-11

Apr-

12Au

g-12

Dec-

12Ap

r-13

Aug-

13De

c-13

Apr-

14Au

g-14

Dec-

14Ap

r-15

Aug-

15De

c-15

Apr-

16Au

g-16

Dec-

16

FTSE Mondo Visione Exchanges Index FTSE All-World Index*

1 YEAR CONSTITUENT PERFORMANCE (USD CAPITAL RETURN)

Source: FTSE Group and Thomson Datastream, data as at 30 December 2016

16.6

n/a

84.2

0.1

-12.5

29.6

1.4

13.9

27.3

-7.5

1.6

-19.5

-5.5 -7.7

10.1

-9.8

46.4

-11.0

64.4

33.5

-21.2

15.4

0.0

-17.9

3.8

-8.7

107.0

5.1

-40%

-20%

0%

20%

40%

60%

80%

100%

120%AS

X

BATS

Glo

bal M

arke

ts

BM&F

Bov

espa

Bolsa

Mex

icana

de

Valor

es S

AB d

e CV

Bolsa

s y M

erca

dos

Espa

noles

Bulg

arian

Sto

ck E

xcha

nge

Burs

a Ma

lays

ia

CBOE

Hol

ding

s

CME

Grou

p

Deut

sche

Boe

rse

Duba

i Fin

ancia

l Mar

ket

Euro

next

Helle

nic

Exch

ange

s SA

Hong

Kon

g Ex

chan

ges &

Clea

ring

Inte

rcon

tinen

tal E

xcha

nge

Japa

n Ex

chan

ge G

roup JSE

Lond

on S

tock

Exc

hang

e Gr

oup

Mosc

ow E

xcha

nge

Multi

Com

mod

ity E

xcha

nge

of In

dia

Nairo

bi S

ecur

ities

Exc

hang

e

Nasd

aq

NZX

Ltd

Philip

pine

Stoc

k Ex

chan

ge

S.C.

Bur

sa d

e Va

lori B

ucur

esti

S.A.

Singa

pore

Exc

hang

e

TMX

Grou

p Lim

ited

War

saw

Stoc

k Ex

chan

ge

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

Source: FTSE Group and Thomson Datastream, data as at 30 December 2016

8.9n/a

76.5

-7.6

-20.2

21.9

-6.3

6.2

19.6

-15.2-6.1

-27.2

-13.2 -15.4

2.4

-17.5

38.7

-18.7

56.7

25.8

-28.9

7.7

-7.7

-25.6

-3.9

-16.4

99.3

-2.6

-40%

-20%

0%

20%

40%

60%

80%

100%

120%AS

X

BATS

Glo

bal M

arke

ts

BM&F

Bov

espa

Bolsa

Mex

icana

de

Valo

res

SAB

de C

V

Bolsa

s y M

erca

dos

Espa

noles

Bulg

aria

n St

ock

Exch

ange

Burs

a M

alay

sia

CBOE

Hol

ding

s

CME

Grou

p

Deut

sche

Boe

rse

Duba

i Fin

ancia

l Mar

ket

Euro

next

Helle

nic

Exch

ange

s SA

Hong

Kon

g Ex

chan

ges

& Cl

earin

g

Inte

rcon

tinen

tal E

xcha

nge

Japa

n Ex

chan

ge G

roup JSE

Lond

on S

tock

Exc

hang

e G

roup

Mos

cow

Exc

hang

e

Mul

ti Co

mm

odity

Exc

hang

e of

Indi

a

Nairo

bi S

ecur

ities

Exc

hang

e

Nasd

aq

NZX

Ltd

Philip

pine

Sto

ck E

xcha

nge

S.C.

Bur

sa d

e Va

lori

Bucu

rest

i S.A

.

Singa

pore

Exc

hang

e

TMX

Grou

p Li

mite

d

War

saw

Sto

ck E

xcha

nge

(“FTSE”) 2017. All rights reserved. “FTSE®”, “FT-SE®” and “Footsie®” are trade marks of the London Stock Exchange Plc and The Financial Times Limited and are used by FTSE under licence. All rights in and to the FTSE MV Exchanges Index vest in FTSE. All information is provided for information purposes only. No responsibility or liability is accepted by FTSE for any errors, loss or liability arising from the use of this publication. Distribution of FTSE index values and the use of the FTSE indices to create financial products require a licence from FTSE.