ETF & ETP March Update. London Stock Exchange Group Page 1

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1 ETF & ETP March Update London Stock Exchange Group Page 1

2 Highlights Listings 30 new ETFs and 1 new ETP were listed on London Stock Exchange in February 2016 There are now 886 ETFs (available as 1,325 lines through multi-currency offerings) and 396 ETCs/ETNs (available as 447 lines) on our London market Trading activity Total on-exchange value traded for ETFs in February 2016 was 26.3 billion (258k trades), up 36% compared to last year Total on-exchange value traded for other ETPs (ETCs and ETNs) in December 2015 was 4.7 billion (69k trades), up by 119% compared to last year London Stock Exchange remains the leading exchange for fixed income ETFs, emerging market ETFs and Exchange Traded Commodities (ETC) trading in Europe Market coverage 22 registered market makers provide continuous pricing and a high quality pool of liquidity on our order-book In addition, more than 150 member firms from over 20 countries are connected to the London Stock Exchange's order book and have access to trade ETFs London Stock Exchange Group Page 2

3 London ETF/ETP market growth Total on-exchange value traded in February 2016 was 30.9 billion through 327k trades Total on-exchange value traded for 2016 is 56.7 billion through 627k trades, up by 25% compared to the same period last year 300, , , , ,000 Number of Trades Turnover (millions) 28,000 24,000 20,000 16,000 12,000 8,000 50,000 4, London Stock Exchange Group Page 3

4 Leading European Market: Turnover London Stock Exchange ETF trading is the largest in Europe with 32.4% market share at the end of January London Stock Exchange Group Charts: Deutsche Bank ETF Annual Review & Outlook February 2016 Page 4 Turnover figures are in million Euros

5 Leading European Market: Commodity Products London Stock Exchange ETC market has the highest turnover market share in on-exchange ETC trading London Stock Exchange Group Charts: Deutsche Bank ETF Annual Review & Outlook February 2016 Page 5 Turnover figures are in million Euros

6 Top 10 Most Traded Products (order book) Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) February 2016 TIDM Value traded ( ) Number of trades Volume traded Value traded ( ) % of market Number of trades % of market Volume traded % of market Average trade size ( ) Time weighted average spread (bp) ISF 880,568,414 35, ,996, % 20.32% 37.91% 24, CSPX 378,922,910 3,899 3,085, % 2.22% 0.77% 97, VUSD 277,131,968 4,638 10,977, % 2.64% 2.76% 59, IHYU 163,260,136 2,254 2,531, % 1.28% 0.64% 72, IEEM 145,794, ,369, % 0.73% 1.85% 113, MIDD 110,517,635 3,568 7,174, % 2.03% 1.80% 30, IWDA 101,032, ,874, % 0.84% 0.97% 68, IHYG 98,133,843 2,634 1,252, % 1.50% 0.31% 37, VUKE 97,226,878 2,259 3,717, % 1.28% 0.93% 43, IEMB 93,268, ,278, % 1.00% 0.32% 52, Top 10 Most Actively Traded other ETPs on London Stock Exchange (by Value Traded) February 2016 TIDM Value traded ( ) Number of trades Volume traded Value traded ( ) % of market Number of trades % of market Volume traded % of market Average trade size ( ) Time weighted average spread (bp) PHAU 300,493,355 6,303 3,709, % 14.12% 0.52% 47, CRUD 225,606,197 5,752 52,397, % 12.89% 7.31% 39, SGLD 214,180,614 3,362 2,583, % 7.53% 0.36% 63, GBS 179,060,364 5,656 2,241, % 12.67% 0.31% 31, PHAG 74,268, ,373, % 1.84% 1.03% 90, IGLN 54,713, ,257, % 2.00% 0.45% 61, OIL 39,461, ,241, % 4.07% 11.05% 21, XGLD 34,861, , % 0.90% 0.06% 86, LOIL 34,250, ,226, % 10.21% 44.51% 7, SGLP 21,577, , % 0.55% 0.04% 88, London Stock Exchange Group Page 6 Note: Time weighted average spread uses best bid and best offer prices from the order book

7 Top 10 Most Traded Products (on-exchange*) Top 10 Most Actively Traded ETFs on London Stock Exchange (by Value Traded) February 2016 TIDM Value traded ( ) Number of trades Volume traded Value traded ( ) % of market Number of trades % of market Volume traded % of market Average trade size ( ) Time weighted average spread (bp) ISF 1,571,295,376 43, ,376, % 16.78% 22.11% 36, IHYG 1,161,007,287 2,987 14,836, % 1.16% 1.22% 388, IBTS 785,943, ,520, % 0.18% 0.70% 1,716, CSPX 636,555,504 4,223 5,174, % 1.64% 0.42% 150, VUSD 571,819, ,781, % 1.91% 1.87% 116, IHYU 561,190,588 2,403 8,656, % 0.93% 0.71% 233, IEAC 548,570, ,677, % 0.31% 0.47% 685, FTAL 509,669,296 1,171 13,813, % 0.45% 1.13% 435, IEEM 459,402,392 1,796 23,140, % 0.70% 1.90% 255, SLXX 429,364, ,281, % 0.85% 0.27% 195, Top 10 Most Actively Traded other ETPs on London Stock Exchange (by Value Traded) February 2016 TIDM Value traded ( ) Number of trades Volume traded Value traded ( ) % of market Number of trades % of market Volume traded % of market Average trade size ( ) Time weighted average spread (bp) SGLD 1,106,049,812 3,633 13,390, % 5.25% 1.34% 304, GBS 927,790,608 6,205 11,732, % 8.97% 1.17% 149, PHAU 556,889,750 7,209 6,897, % 10.43% 0.69% 77, CRUD 283,755,150 6,976 65,874, % 10.09% 6.59% 40, IGLN 212,440, ,546, % 1.45% 1.26% 211, SOIL 169,863, ,858, % 0.95% 0.19% 259, PHGP 131,795, ,613, % 4.47% 0.16% 42, PHAG 92,249, ,153, % 1.29% 0.92% 103, COPA 65,470, ,451, % 0.26% 0.45% 361, XGLD 65,109, , % 0.68% 0.08% 138, Note: Time weighted average spread uses best bid and best offer prices from the order book London Stock Exchange Group Page 7 *Includes non-order book trades reported to the London Stock Exchange on-exchange

8 Trade Size Stats February Average order book trade size for ETFs was 39k Average order book trade size for other ETPs was 35k London Stock Exchange Group Page 8

9 New Products February TIDM Instrument Name ISIN First trading date Currency ULOV UBSETF FACTOR USA LOW VOL. H. GBP A-DIS IE00BXDZNF GBX UPVL UBSETF FACTOR USA PRIME V. H. GBP A-DIS IE00BXDZNH GBX UQLT UBSETF FACTOR USA QUALITY H. GBP A-DIS IE00BXDZNK GBX UTSY UBSETF FACTOR USA TS YIELD H. GBP A-DIS IE00BXDZNM GBX ELOV UBSETF FACTOR EMU LOW VOL. H. GBP A-DIS LU GBX EPVL UBSETF FACTOR EMU PRIME V. H. GBP A-DIS LU GBX EQLT UBSETF FACTOR EMU QUALITY H. GBP A-DIS LU GBX ETSY UBSETF FACTOR EMU TS YIELD H. GBP A-DIS LU GBX SBEM UBSETF BARCAP USD EMMA SOVER. USD A-DIS LU GBX XFNS SOURCE FIN SRVCS SP US SELECT SECTOR ETF IE00BYM8JC USD XRES SOURCE REAL EST SP US SELECT SECTOR ETF IE00BYM8JD USD EC37 SPDR BARCLAYS 3-7 EURO CORP UCITS ETF IE00BYSZ5W EUR LEUC SPDR BARCLAYS 7+ EURO CORP BD UCITS ETF IE00BYSZ5X EUR USCO SPDR BARCLAYS US CORP BD UCITS ETF IE00B3VY0M USD IUCB SPDR BARCLAYS 3-10 US CORP BD UCITS ETF IE00BYV12Y USD EU57 SPDR BARCLAYS 5-7 EURO GOV BD UCITS ETF IE00BYSZ5Y EUR EU7L SPDR BARCLAYS 7-10 EURO GOV BD UCITS ETF IE00BYSZ5Z EUR LGOV SPDR BARCLAYS 10+ EURO GOV BD UCITS ETF IE00BYSZ EUR TRS5 SPDR BARCLAYS 3-5 US TRSY BD UCITS ETF IE00BYSZ5R USD TRS7 SPDR BARCLAYS 5-7 US TRSY BD UCITS ETF IE00BYSZ5S USD TRSX SPDR BARCLAYS 7-10 US TRSY BD UCITS ETF IE00BYSZ5T USD LUTR SPDR BARCLAYS 10+ US TRSY BD UCITS ETF IE00BYSZ5V USD RS2U AMUNDI ETF RUSSELL USD FR USD CSWU AMUNDI ETF MSCI SWITZERLAND - CHF FR USD CJ1U AMUNDI ETF MSCI JAPAN - JPY FR USD LUXU AMUNDI ETF S&P GLOBAL LUXURY - USD FR USD VECP VANGUARD EUR CORPORATE BOND UCITS ETF IE00BZ163G GBP VETY VANGUARD EUR EUROZONE GOV BOND UCITS ETF IE00BZ163H GBP VUCP VANGUARD USD CORPORATE BOND UCITS ETF IE00BZ163K GBP VUTY VANGUARD USD TREASURY BOND UCITS ETF IE00BZ163M GBP 5WTI SG WTI X5 DAILY LONG GBP 2 JE00BYVJRS GBP London Stock Exchange Group Page 9

10 Product Growth Number of new listings year on year ETFs ETPs London Stock Exchange Group Page 10

11 Products by Issuer Issuer Number of ETFs Ranking ishares DB X-Trackers Lyxor UBS ETF 89 4 SSGA SPDR 89 4 Source 52 5 Amundi ETF 50 6 HSBC ETFS 28 7 Vanguard 21 8 Invesco Powershares 19 9 WisdomTree ETF Securities Ossiam BMO 9 13 First Trust 8 14 RBS Market Access 6 15 Nomura 4 16 Commerzbank 3 17 Van Eck 3 17 Ashmore 2 18 Fundlogic Alternatives 2 18 Finex 1 19 Zyfin 1 19 Total 886 Issuer Number of Other ETPs Ranking ETF Securities UBS AG 66 2 Boost ETP 43 3 Société Générale 28 4 DB ETC 8 5 Barclays Bank 4 6 ishares 4 7 Source 4 7 Codeis Securities 1 8 Total 396 London Stock Exchange Group Page 11

12 Issuer Turnover (ETFs) February Issuer Sum of GBP Value Sum of Trades Sum of Volume Value traded % of Trades % of Volume % of market market market Ranking ISHARES 17,036,235, , ,251, % 62.75% 67.89% 1 DB X-TRACKERS 1,706,402,907 21, ,072, % 8.22% 9.20% 2 LYXOR 1,629,959,685 5,179 58,843, % 2.01% 4.83% 3 VANGUARD 1,592,901,166 21,406 63,921, % 8.30% 5.25% 4 SSGA SPDR 1,536,643,217 12,398 44,187, % 4.81% 3.63% 5 SOURCE 1,414,144,868 12,104 20,651, % 4.69% 1.69% 6 UBS ETF 362,996,666 3,663 21,270, % 1.42% 1.75% 7 ETF SECURITIES 317,878,208 7,387 21,686, % 2.86% 1.78% 8 HSBC ETFS 296,342,076 7,007 24,579, % 2.72% 2.02% 9 INVESTO POWERSHARES 117,642,063 1,083 4,412, % 0.42% 0.36% 10 AMUNDI ETF 113,357, ,695, % 0.31% 0.96% 11 WISDOMTREE 35,720, ,975, % 0.34% 0.33% 12 VAN ECK 30,600,476 1,591 2,410, % 0.62% 0.20% 13 NOMURA 29,770, , % 0.18% 0.04% 14 OSSIAM 24,214, , % 0.09% 0.02% 15 FIRST TRUST 12,310, , % 0.19% 0.05% 16 BMO 4,633, , % 0.00% 0.00% 17 RBS 2,592, , % 0.05% 0.01% 18 FUNDLOGIC 2,031, , % 0.01% 0.00% 19 ZYFIN 130, , % 0.00% 0.00% 20 FINEX 2, % 0.00% 0.00% 21 COMMERZBANK % 0.00% 0.00% 22 Total 26,266,510, ,955 1,218,577,601 London Stock Exchange Group Page 12

13 Issuer Turnover (Other ETPs) February Issuer Sum of GBP Value Sum of Trades Sum of Volume Value traded % of market Trades % of market Volume % of market Ranking ETF SECURITIES 2,852,554,418 46, ,588, % 67.76% 81.89% 1 SOURCE 1,151,013,827 4,396 14,634, % 6.36% 1.46% 2 ISHARES 275,336,907 2,552 16,369, % 3.69% 1.64% 3 BOOST ETP 210,557,621 11, ,537, % 16.65% 13.26% 4 DB ETC 74,304, ,205, % 1.42% 0.12% 5 CODEIS SECURITIES 43,038, , % 0.03% 0.05% 6 SG ISSUER 38,825,560 2,727 14,293, % 3.94% 1.43% 7 BARCLAYS BANK PLC 2,681, ,412, % 0.11% 0.14% 8 UBS AG 737, , % 0.05% 0.00% 9 Total 4,649,050,231 69, ,584,100 London Stock Exchange Group Page 13

14 Fixed Income ETFs - product range and turnover LSE has by far the highest on-exchange turnover for fixed income ETFs in Europe with 48% market share There are over 260 fixed income ETFs listed on the LSE 80% of the European top 20 fixed income ETFs by value traded are LSE listed Top 10 fixed income ETFs by monthly on-exchange turnover ( million) London Stock Exchange Deutsche Börse London Stock Exchange Group Data: Deutsche Bank European Monthly ETF Market Review February 2016

15 Contact details Exchange Traded Products London Stock Exchange 10 Paternoster Square London EC4M 7LS Tel: +44 (0) London Stock Exchange Group Page 15