A WORLD OF PRICING & REFERENCE DATA A DETAILED GUIDE TO ALL YOUR NON-STREAMING CONTENT NEEDS AND MORE

Transcription

1 A WORLD OF PRICING & REFERENCE DATA A DETAILED GUIDE TO ALL YOUR NON-STREAMING CONTENT NEEDS AND MORE

2 WELCOME TO A WORLD OF AWARD-WINNING CONTENT & SERVICES Best Reference Data Provider (Waters Rankings 2015) Best Corporate Actions Solution Provider (Waters Rankings 2015) Best Counterparty Data Provider (Inside Reference Data 2014) Best Data Provider to the Sell Side (Sell-Side Technology, Waters Technology 2014) Technology Innovation of the Year (Structured Products Asia 2014) Best Trading and Reference Data Provider of the Year (The Asian Banker Financial Markets 2014) Silver Pricing Provider (Structured Products Technology Rankings 2014) Silver Risk Management Provider (Structured Products Technology Rankings 2015) Risk Technology Provider (Risk Technology Rankings 2014) 2015 Best Pricing & Analytics for Commodities (Structured Products Technology Rankings) 2015 Best Data Provider for Derivatives (Insider Reference Data) 2015 Best Evaluated Prices Service Provider (Insider Reference Data) GRC Innovation Award

3 CONTENTS Valuation Services...4 Risk Data Regulatory Data Reference Data...32 Corporate Actions...34 Commodities and Energy...37 Corporates...39 Delivery Platform... 41

4 A WORLD OF PRICING & REFERENCE DATA AT YOUR FINGERTIPS. TRANSPARENT. INDEPENDENT. ACCURATE. The Thomson Reuters Pricing Service (TRPS) delivers award winning content to thousands of entities around the world every day. This service helps subscribers to price illiquid, complex and Over-The-Counter (OTC) instruments. TRPS is a transparent, independent and accurate service which offers price recipes, corresponding market color and other relevant data sets for all evaluations. TRPS delivers extensive global content for all major asset classes including: Bank Loans Convertible Bonds Derivatives Derived Equities Government & Corporate Bonds MBS & Securitized Products Money Markets Municipal Bonds Structured Notes + More To find out more, simply prd.community@thomsonreuters.com or visit prdcommunity.com 2015 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

5 THOMSON REUTERS PRICING SERVICE TRANSPARENT. INDEPENDENT. ACCURATE. Pricing information you can count on. Thomson Reuters Pricing Service (TRPS) is an independent, global evaluated pricing source covering over 2.5 million fixed income securities, derivatives and bank loans. Coverage spans all major financial markets and prices are available at multiple times daily. TRPS evaluations, which provide detailed transparency and market insight, are designed to support Asset Managers, Custodian Banks, Mutual Funds, Investment Banks, Accounting Firms, and Financial Research Providers. EXTENSIVE GLOBAL COVERAGE TRPS provides evaluated pricing for all asset classes across all global markets ASSET CLASS COVERAGE Global Government and Corporate bonds including Sovereign debt, investment grade and high yield bonds, convertible securities and money market instruments US Municipal bonds Mortgage backed securities including fixed and floating rate instruments Structured Finance instruments including asset backed securities (ABS), collateralized mortgage obligations (CMO), residential mortgage backed securities (RMBS), commercial mortgage backed securities (CMBS), collateralized loan obligations (CLO) and collateralized debt obligations (CDO) Interest rate, Credit, Commodity and Equity derivatives and Structured Notes Bank Loans FULL SCALE PRICING SERVICE Comprehensive Terms and Conditions support our evaluations every day Market color is actively monitored throughout the day and applied as appropriate to our evaluations Strict validation processes are in place to monitor tolerance breaks, unchanged prices, broker quote consistency and data integrity In-house and external pricing models are rigorously tested to handle large volumes and volatile market conditions Up-to-date market standards and procedures, coupled with our SSAE 16 certifications LEADING EVALUATORS With over one hundred evaluators across the world, Thomson Reuters brings clients global coverage with local knowledge. Our professional and experienced evaluators apply consistent and transparent pricing methodologies, incorporating observable market data and standard market convention practices. DELIVERY Evaluations are available throughout the day Intra Day and at standard market snapshot times Extraction flexibility is available through Thomson Reuters DataScope Select and Thomson Reuters DataScope Onsite TRANSPARENCY Transparency is offered for all evaluations and includes price recipes, corresponding market color and other relevant data. Commentary is available for issues that break tolerance thresholds Direct access to an evaluator for price challenges is always available and allows clients to access additional color, clarification and validation. All challenges are addressed prior to the next day s pricing cycle INDEPENDENT, TRANSPARENT AND ACCURATE EVALUATIONS MARKET COLOR NEW ISSUE MARKET MARKET TRANSACTIONS BROKER QUOTES BENCHMARKS INTEREST RATES NEWS EVALUATORS AND EXPERTS REFERENCE DATA / T&C CASHFLOW ANALYSIS METHODOLOGIES FORMULAS & ANALYTICS PRICING MODELS EVALUATED PRICE WHY THOMSON REUTERS? Reliable and consistent In the current volatile market, our evaluated prices offer proven reliability and consistency. Independent We are an independent third party pricing provider with no conflicts of interest since we do not originate, issue, trade, buy, sell or position these instruments. Expert team Our evaluated pricing service is delivered by a team of more than 100 experts located around the globe, who are in constant contact with market participants. Thomson Reuters Pricing & Reference Data 5

6 THOMSON REUTERS PRICING SERVICE EXTENSIVE GLOBAL CONTENT FOR ALL MAJOR ASSET CLASSES ASSET CLASS COVERAGE METHODOLOGY Global: Asia-Pacific, EMEA, Americas Investment Grade All Australasian, EMEA and American markets Evaluated on nominal spread, discount margin or OAS basis depending on how the market trades a security or sector High Yield Major issues priced. Other Markets covered on customer request Individually evaluated, mostly on a price basis using the lead underwriter as primary source of information Emerging markets Benchmark issues priced. Others priced on Evaluated on spread or price basis customer request Money markets T-Bills, Commercial Paper, CDs Evaluated on spread or discount rate basis Syndicated Loans Syndicated bank loans LSTA pricing methodology average of bids and offers from the broker/ dealer community Derivatives CDS (Credit Default Swaps), IRS (Interest Rate Swaps), TRS (Total Return Swaps), OTC Equity options and warrants, Bond Futures, Currency options, Swaps, Forwards, Caps and Floors, Swaptions, Structured products, Equity Derivatives Extensive library of analytics and market data Asset Backed Securities, Commercial MBS Convertible Bonds Collateralized Debt Obligation Collateralized Loan Obligation ABS, RMBS, CMBS Convertible Bonds and Convertible Preferred Stocks ABS, CRE and TruPS Covering both broadly syndicated and middle market structures, across the entire capital structure Individually evaluated using historical and projected prepayment speeds and loss scenarios. Methodologies implemented using spreads obtained from market participants, trade prices and dealer quotes Thomson Reuters internal convertible pricing model uses dealer quotes and a delta model incorporating a real time equity feed Fair market value approach using cash flows that incorporate market observed prepayment speeds and loss rates and yields observed from trades prices and dealer quotes Fair market value approach using cash flows that incorporate market observed prepayment speeds and loss rates and yields observed from trades prices and dealer quotes Americas Treasuries Bills, Notes, Bonds, STRIPS Thomson Reuters receives daily valuations on bills, notes, bonds and STRIPS from multiple contributors Agencies Discount Notes, Bonds, Medium Term Notes Agencies individually evaluated on an OAS basis or nominal spread for non-callable issues Fixed-Rate Mortgage Pools Adjustable-Rate Mortgage Pools Hybrid Adjustable Rate Mortgage Pools Agency CMO Non Agency RMBS, Commercial MBS Consumer ABS Municipals Canadian Mortgage- Backed Securities GNMA, FNMA, FHLMC: TBA, Fixed Rate, Balloon and Graduated Payment GNMA, FNMA, FHLMC: COFI, CMT, LIBOR, MTA GNMA, FNMA, FHLMC: 3-1, 5-1,7-1, 10-1 GNMA, FNMA, FHLMC: Fixed Rate, IO/PO (Interest Only/Principal Only) Simple and Complex Floaters and Inverse Floaters Multiple Issuers: Prime, Alt A, Subprime; CMBS Auto and Boat loans, Credit Card, Recreational Vehicle loans All municipal investment grade and high yield debt, including general obligation, revenue and assessment bonds, distressed and defaulted debt, taxable municipals, and short term markets Price valuations and analytics for over 10,000 instruments including all fixed rate and floating prefixes MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com All seasoned pools are priced off MBS TBA prices. TBA prices are obtained from market makers and live trading systems. Seasoned quotes are obtained from dealer community and trade prices Individually evaluated on an BEEM (Bond Equivalent Effective Margin) basis Priced by Z spread to balloon date Individually evaluated using OAS and nominal spread. OAS valuations use the Andrew Davidson prepayment model and Thomson Reuters OAS calculator. Cashflows are calculated internally Individually evaluated using historical and projected prepayment speeds and loss scenarios. Methodologies implemented using spreads obtained from market participants, trade prices and dealer quotes Individually evaluated on a nominal spread basis. Spreads obtained from trade prices and dealer quotes All investment grade as well as certain non-rated categories are priced with a credit curve driven attribute model. High yield, distressed and defaulted debt are hand priced. In all cases sell side, buy side, underwriting and inter-dealer broker trading desks provide primary information and market color Fair market value approach using cash flows generated from historical prepayment speeds and loss rates and spreads observed from dealer quotes 6 Thomson Reuters Pricing & Reference Data

7 MORE TRANSPARENT VALUATIONS. MORE INFORMED DECISIONS. Thomson Reuters Valuation Navigator makes pricing and reference data more transparent for valuation and risk processes across the entire enterprise. Automates daily pricing and valuation workflows Provides transparency into the evaluation price Offers data consolidation and data reformatting Integrates accurate, reliable market color Our high-performance search technology and pre-built modules give middleand back-office teams the ability to iterate and customize their analyses and workflows in less time and with fewer errors. Learn more at thomsonreuters.com/valuation-navigator 2015 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

8 THOMSON REUTERS VALUATION NAVIGATOR TRANSPARENCY AND AUTOMATED WORKFLOWS FOR PRICING AND REFERENCE DATA Guiding More Accurate Portfolio Valuations Thomson Reuters Valuation Navigator makes market and position data more transparent for valuation and risk processes, reducing errors, and enhancing insight for the entire enterprise. Using high performance search technology and pre-built modules, middle- and back-office teams can rapidly iterate and customize their analyses and workflows. Unlike traditional spreadsheet-based solutions which are time-consuming to set up and costly to manually maintain, Valuation Navigator allows for fast and easy search across large data sets. The solution automates manual data wrangling activities and provides rigorous version control for audit processes leaving more time for analysis, insight, and risk mitigation. ANALYZING COMPLEX AND SCATTERED MARKET DATA Most financial institutions have access to market data that is adequate to support their operations, but many struggle with key objectives: transparency, accessibility, audit support, and workflow automation. Market and position data is often scattered across multiple databases, vendor feeds, and s. Spreadsheets are traditionally utilized to manage integration and analysis processes, which are fragmented and unreliable. KEY ADVANTAGES Reference Data Agnostic: There is no limit to the sources of data. Thomson Reuters data is preintegrated and other vendors and data feeds are available. Rapid Time-to-Value: Valuation Navigator comes with out-ofthe-box modules and pre-integrated data feeds that accelerate implementation. Unmatched Customization: Firms can rapidly implement their specific workflows and processes in Valuation Navigator and be up and running in days. CONSOLIDATING PRICING AND REFERENCE DATA Thomson Reuters Valuation Navigator collects scattered financial data into a single, searchable repository; supports a building-block approach to modeling; is extensible for complex workflows; and enables shared insight across your entire organization. 8 Thomson Reuters Pricing & Reference Data

9 THOMSON REUTERS VALUATION NAVIGATOR FUNCTIONALITY Rapid Data Collection Thomson Reuters Valuation Navigator enables back- and middleoffice teams to easily import market and position data into one manageable solution. Data sources can include multiple databases, market feeds, s, PDFs, and spreadsheets. Many common market data feeds are pre-integrated accelerating time-to-value. The solution is a distributed repository, so you can bring together data from multiple sources private as well as public without disrupting your current feeds or processes. Easy Search Thomson Reuters Valuation Navigator provides easy and fast search across your entire reference data landscape giving you views of your data that were previously impossible. Want to know everything there is to know about a certain CUSIP? The speed and breadth of the search capability allows for in- depth analyses and insights. And search results can support a variety of workflow requirements and provide inputs for numerous analytic modules. Formal Modules Robust and auditable modules can encapsulate detailed analytic workflows such as: NAV pricing and tolerance testing. By automating common manual processes, modules leave more time for analysts to review and mitigate outliers. Modules also include historic logging, so you always know how you got to the answer yesterday, last week, or last year. Shared Insight The insight produced can be quickly shared across the organization as either read-only or interactively, where participants can try different what-if scenarios such as selecting from evaluated pricing, most recent trade price, or another type of price. Thomson Reuters Valuation Navigator is an end-to-end analytics solution optimized for financial data workflows. COMMON USE CASES Automates Daily Pricing & Valuation Workflows Current daily pricing processes are frequently driven by multiple spreadsheets and databases which create unreliable and timeconsuming workflows. Thomson Reuters Valuation Navigator streamlines these workflows with automated data collection and tolerance rule application. The solution provides summary views and detailed asset level drilldown, while capturing the end-to-end process for audit support. This gives your organization a comprehensive view of daily pricing and valuation processes to maximize what you can do with your reference data. Provides Transparency into the Evaluated Price What influences an evaluated price? Thomson Reuters Valuation Navigator offers wide access to your organization s reference data feeds giving you better insight into market observable inputs on evaluated prices. The solution s integrated rules enable rapid processing of market inputs to determine asset leveling and support regulatory capital requirement processes. Thomson Reuters Valuation Navigator can integrate with back-office accounting systems for purposes of financial statement disclosures and level reconciliations. Offers Data Consolidation and Data Reformatting Thomson Reuters Valuation Navigator enables you to quickly and easily reformat your vendor data feeds to match your internal system requirements. The solution aggregates and applies formatting rules to transform data from multiple feeds into one stream which is adjusted for holidays, regional market closings, and time of day pricing availability. With Thomson Reuters Valuation Navigator you can define your own hierarchy of price selections from a variety of data sources, transforming your organization s pricing and valuation insight. SOLUTION COMPONENTS NAME Application Server DESCRIPTION Allows users to search multiple reference data sources as well as to run analytic and workflow modules which use this data. The Client can connect to multiple Valuation Navigator Servers at the same time. Provides easy and fast search across your entire reference data landscape. Servers can be deployed on-site, hosted by Thomson Reuters or as a combination of hosted and on-site installed servers. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com Thomson Reuters Pricing & Reference Data 9

10 INTRADAY EVALUATED PRICING CONTINUOUS UPDATES. INCREASED TRANSPARENCY Assess the true value of your entire portfolio at any point in time In today s market, regulators, investors, and auditors are demanding greater clarity behind the value of investment and trading portfolios. These requirements place a heightened importance on the ability to calculate net asset value (NAV) at any given time interval. Intraday evaluated pricing through Thomson Reuters Pricing Service (TRPS) enables these calculations by providing continuously updated evaluations during market hours. INTRADAY EVALUATED PRICING Intraday prices are calculated using TRPS recipe updates, real time bench mark curves and stringent quality checks. TRPS offers intraday evaluated pricing on the following asset classes: Global Sovereign Debt Global Investment Grade Corporate Bonds Global High Yield Corporate Bonds Global Money Market Securities REUTERS PRICE RECIPES FROM TRPS TRPS evaluators, a team of over 150 global fixedincome specialists, update credit spreads and bond prices throughout the day. Spreads are obtained from trade prices, dealer quotes, and the primary market. REAL-TIME BENCHMARK UPDATES Benchmark curves are available on the Thomson Reuters real-time data network. These curves are updated throughout the day from contributing market makers and brokers. Many bond pricing recipes are linked to a benchmark curve that is associated with the bond s market and asset class. Intraday prices are benchmark-adjusted throughout the day, incorporating a yield derived from the latest TRPS price recipe and appropriate benchmark point which ticks continuously 24/5 around the globe. INTRADAY QUALITY CONTROL CHECKS TRPS evaluators perform the following quality checks throughout the day to ensure pricing accuracy: Yield Curve Analysis: Yield curve quality checks are performed by two teams the Fixed Income Content Team and TRPS. The Fixed Income Content Team monitors all real-time benchmark curves for consistency and accuracy and proactively contacts contributing dealers when curve points appear erroneous. TRPS evaluators monitor yield curves at periodic benchmark snap times (e.g., 12:00 / 14:00 / 16:00 / 18:00 UK time and 14:00 / 15:00 / 16:00 NY time). Intraday Price Movement Check: Tolerance checks are performed every two hours beginning at 10:00 Tokyo time and finishing at 18:00 New York time. DATASCOPE SELECT FILE DELIVERY Intraday evaluated pricing is available through TRPS, within DataScope Select (DSS). Customers have the ability to customize extraction times to meet their requirements by using the real-time reporting template. Intraday prices are available within seconds of the scheduled extraction time. ABOUT THOMSON REUTERS PRICING SERVICE Thomson Reuters Pricing Service (TRPS) is a global solution that covers over 2.5 million fixed income securities, derivatives and loans, priced daily. Prices are delivered throughout the day or at market closing times around the world depending on the asset class, with supporting commentary to provide insight on the day s events. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 10 Thomson Reuters Pricing & Reference Data

11 THOMSON REUTERS PRICING SERVICE COLLATERALIZED DEBT OBLIGATIONS A comprehensive solution to help you manage risk and make informed decisions on your CDO investments. The Thomson Reuters Pricing Service (TRPS) gives you direct access to independent evaluations of Collateral Debt Obligations (CDOs). Our platform allows for direct access to mark-to-market scenarios on all underlying structured products. Furthermore, TRPS s RMBS, CMBS, and ABS Desks allow evaluators to readily access end of day pricing on all underlying securities to determine tranche Net Asset Value (NAV). Providing you with an impartial basis for risk management and any other decisions involving your CDO, Thomson Reuters brings to bear a wide range of data, tools, and strategic partnerships unique to the marketplace. THROUGH PROCESS ENSURE ACCURATE END OF DAY PRICES Each CDO is individually priced by incorporating the following information, techniques, and resources: Independent evaluations based on a granular, asset-level analysis of the CDO End of day prices on all three major CDO types ABS, CRE and TruPS Analysis and insights of our expert evaluators, all of whom perform structural analysis, and who leverage relationships with key market participants The Moody s CDONet Analytics library, which provides deal waterfalls and asset-level performance data Risk mitigation integrated into your strategy we automate the process to address reporting and fund board requirements MITIGATE RISK WITH VALUATIONS YOU CAN TRUST We employ rigorous quality control checks multiple times a day to ensure pricing accuracy All securities are reviewed daily for price based tolerance, recipe changes and price changes above a certain level or beyond a certain period of time Nothing is missed Alerts are generated for data that is missing and/or not received in a timely manner, and data specialists immediately research any data-related issues that highlights that there is an automated system REUTERS/Lucas Jackson EXPERTISE AND DATA QUALITY The combination of our expert evaluators, quality of data, and powerful analytics gives you unique insights. This, combined with rigorous processes, ensures you have the confidence you need in the quality and independence of the end-of-day prices you receive. WHY THOMSON REUTERS? Reliable and consistent In the current volatile market, our evaluated prices offer proven reliability and consistency. Independent We are a completely independent third party pricing provider with no conflicts of interest since we do not originate, issue, trade, buy, sell or position these instruments. Expert team Our evaluated pricing service is delivered by a team of more than 100 experts located around the globe, who are in constant contact with market participants. Thomson Reuters Pricing & Reference Data 11

12 THOMSON REUTERS PRICING SERVICE COLLATERALIZED DEBT OBLIGATIONS GLOBAL COVERAGE FROM THOMSON REUTERS PRICING SERVICE In ASSET addition CLASS to CDOs, the Thomson COVERAGEReuters Pricing Service provides independent METHODOLOGY valuations for a wide range of asset classes around the globe. Professional, Global: Asia-Pacific, experienced EMEA, evaluators Americas apply consistent and transparent pricing methodologies that reflect regulatory and accounting standards. Investment Grade All Australasian, EMEA and American markets Evaluated on nominal spread, discount margin or OAS basis depending on how the market trades a security or sector High Yield Major issues priced. Other Markets covered Individually evaluated, mostly on a price basis using the lead underwriter as on customer request primary source of information Emerging markets Benchmark issues priced. Others priced on Evaluated on spread or price basis customer request Money markets T-Bills, Commercial Paper, CDs Evaluated on spread or discount rate basis Syndicated Loans Syndicated bank loans LSTA pricing methodology average of bids and offers from the broker/ dealer community Derivatives CDS (Credit Default Swaps), IRS (Interest Rate Extensive library of analytics and market data Swaps), TRS (Total Return Swaps), OTC Equity options and warrants, Bond Futures, Currency options, Swaps, Forwards, Caps and Floors, Swaptions, Structured products, Equity Derivatives Asset Backed Securities, Commercial MBS Convertible Bonds Collateralized Debt Obligation Collateralized Loan Obligation ABS, RMBS, CMBS Convertible Bonds and Convertible Preferred Stocks ABS, CRE and TruPS Covering both broadly syndicated and middle market structures, across the entire capital structure Individually evaluated using historical and projected prepayment speeds and loss scenarios. Methodologies implemented using spreads obtained from market participants, trade prices and dealer quotes Thomson Reuters internal convertible pricing model uses dealer quotes and a delta model incorporating a real time equity feed Fair market value approach using cash flows that incorporate market observed prepayment speeds and loss rates and yields observed from trades prices and dealer quotes Fair market value approach using cash flows that incorporate market observed prepayment speeds and loss rates and yields observed from trades prices and dealer quotes Americas Treasuries Bills, Notes, Bonds, STRIPS Thomson Reuters receives daily valuations on bills, notes, bonds and STRIPS from multiple contributors Agencies Discount Notes, Bonds, Medium Term Notes Agencies individually evaluated on an OAS basis or nominal spread for non-callable issues Fixed-Rate Mortgage Pools Adjustable-Rate Mortgage Pools Hybrid Adjustable Rate Mortgage Pools Agency CMO Non Agency RMBS, Commercial MBS Consumer ABS Municipals Canadian Mortgage- Backed Securities GNMA, FNMA, FHLMC: TBA, Fixed Rate, Balloon and Graduated Payment GNMA, FNMA, FHLMC: COFI, CMT, LIBOR, MTA GNMA, FNMA, FHLMC: 3-1, 5-1,7-1, 10-1 GNMA, FNMA, FHLMC: Fixed Rate, IO/PO (Interest Only/Principal Only) Simple and Complex Floaters and Inverse Floaters Multiple Issuers: Prime, Alt A, Subprime; CMBS Auto and Boat loans, Credit Card, Recreational Vehicle loans All municipal investment grade and high yield debt, including general obligation, revenue and assessment bonds, distressed and defaulted debt, taxable municipals, and short term markets Price valuations and analytics for over 10,000 instruments including all fixed rate and floating prefixes MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com All seasoned pools are priced off MBS TBA prices. TBA prices are obtained from market makers and live trading systems. Seasoned quotes are obtained from dealer community and trade prices Individually evaluated on an BEEM (Bond Equivalent Effective Margin) basis Priced by Z spread to balloon date Individually evaluated using OAS and nominal spread. OAS valuations use the Andrew Davidson prepayment model and Thomson Reuters OAS calculator. Cashflows are calculated internally Individually evaluated using historical and projected prepayment speeds and loss scenarios. Methodologies implemented using spreads obtained from market participants, trade prices and dealer quotes Individually evaluated on a nominal spread basis. Spreads obtained from trade prices and dealer quotes All investment grade as well as certain non-rated categories are priced with a credit curve driven attribute model. High yield, distressed and defaulted debt are hand priced. In all cases sell side, buy side, underwriting and inter-dealer broker trading desks provide primary information and market color Fair market value approach using cash flows generated from historical prepayment speeds and loss rates and spreads observed from dealer quotes 12 Thomson Reuters Pricing & Reference Data

13 THOMSON REUTERS LOAN PRICING PRICE LOANS WITH CONFIDENCE Better pricing data. Better loan deals. For over 20 years, Thomson Reuters Loan Pricing has worked with every leading loan dealer in the world s secondary markets. Whether you re on the buy side or sell side, we give you access to timely, independent composite prices on syndicated loans. THE LEADING PROVIDER OF COMPREHENSIVE, INDEPENDENT, MARK-TO-MARKET, LOAN PRICING DATA When you work with Thomson Reuters for loan pricing, you know you re working with the market leader, long trusted for being transparent, independent and accurate all of which is more important today than ever. In short, you get a depth of data and analysis you can t find anywhere else. Get end-of-day loan pricing for mark-to-market and NAV funds. Use our prices to help power relative value analysis between loans and bonds. You also get valuable, exclusive data and analytics on loans, with a database of detailed terms and conditions on more than 200,000 loans and bond transactions. In-depth experience, global reach Comprehensive and timely cross-asset coverage Quotes from all major loan dealers Transparent and independent Extensive audit procedures to ensure quality prices The offering is part of Thomson Reuters Pricing Service (TRPS), is an independent, global-evaluated pricing source covering over 2.5 million fixed income securities, derivatives and bank loans. Coverage spans all major financial markets and prices are available at multiple times daily. TRPS evaluations, which provide detailed transparency and market insight, are designed to support Asset Managers, Custodian Banks, Mutual Funds, Investment Banks, Accounting Firms, and Financial Research Providers. CONTENT AT A GLANCE Thomson Reuters Global Mark-to-Market Pricing Comprehensive global market coverage of our independent, unbiased and confidential pricing. Hundreds of clients receive daily pricing on the liquid secondary loan tranches along with terms and conditions for more than 200,000 loan facilities. REUTERS/Luke MacGregor Thomson Reuters EMEA Mark-to-Market Pricing European Mark-to-Market Loan Pricing This pricing service brings much-needed transparency to the European loan investor community. Backed by over 20 major dealers, we provide loan investors and portfolio managers with daily valuations for over 2,000 leveraged and investment-grade loans originated in EMEA. Thomson Reuters Pricing & Reference Data 13

14 THOMSON REUTERS LOAN PRICING Loans Coverage Active Loans 56,306 Inactive Loans 217,157 Total Loans (Live/Matured) 273,463 Priced Loans on Secondary Market 13,500 > Daily Broker/Dealer Quotes 5,000 > Unique Tranche Prices 2 > Names for Each Composite Terms and Conditions Deal Level Info Base Rate + Margin S&P, Moody s, and Fitch Borrower and Bank Loan Top Global Coverage Market Asia EMEA Latin America North America Active Only 20,107 16,596 1,421 18,182 Matured Loans 55,244 36,357 4, ,996 TOTAL 75,351 52,953 5, ,178 Global Reach Clients globally subscribe to our Thomson Reuters LPC Pricing Service on the liquid secondary loan tranches along with terms and conditions for more than 273,463 facilities. DATA DELIVERED THE WAY YOU WANT IT Thomson Reuters DataScope Select Thomson Reuters DataScope Select is the strategic data delivery platform for non-streaming cross-asset content globally, which can be deployed almost instantaneously. The platform can be integrated by financial firms through three interfaces including browser based, FTP and REST or SOAP API. Thomson Reuters DataScope Onsite A Thomson Reuters managed system is deployed to the customer site this box and leased line setup is typically installed outside clients internal firewalls (in a DMZ) and holds a Sybase Database, which is updated automatically from Thomson Reuters data. Clients have SQL access to the content in the DataScope Onsite Product. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 14 Thomson Reuters Pricing & Reference Data

15 COLLATERALIZED LOAN OBLIGATIONS BETTER PRICING. GREATER ACCURACY. Know the exact contents and true market value of your CLO holdings at any point in time. REUTERS/Aly Song The 2008 crisis brought volatility to many asset classes, including Collateralized Loan Obligations (CLOs). Today, having emerged from the crisis relatively well, the CLO market is flourishing again. However, to successfully navigate this market, you need to know the precise contents of your holdings, understand the value of the underlying assets, and accurately value their contents in real time. THOMSON REUTERS: A SINGLE SOURCE THAT COMBINES POWERFUL, PROVEN CLO PRICING AND ANALYSIS SOLUTIONS We offer comprehensive on-line CLO analysis, enabling users to view underlying assets of their CLOs, identify exposure to specific assets or issuers and compare market value coverage for CLO tranches, while our Evaluated Pricing Service provides a highly accurate, current and granular view of the value of your CLO assets. Using our proprietary methodology, Thomson Reuters pricing experts calculate an independent theoretical value of CLOs. Together, our platform and our evaluated pricing help ensure your CLO portfolios are demonstrably healthy, accurately priced, and in full compliance with all governing regulations. Thomson Reuters Pricing & Reference Data 15

16 COLLATERALIZED LOAN OBLIGATIONS BETTER PRICING. GREATER ACCURACY. A deeper look at the CLO pricing solution from Thomson Reuters CLO PRICING The methodology that delivers accuracy Our evaluated pricing service provides end of day prices on Global Cash Collateralized Loan Obligations (CLOs). These include both broadly syndicated and middle market CLOs across the whole capital structure (AAA-EQ). CLO prices are determined based upon cash flow models incorporating market observed prepayment speeds, loss rates, yields from secondary trades and dealer quotes. We price each CLO security individually, incorporating the following information, techniques, and resources: Granular loan-level data Thorough structural analysis Library and cashflow engine Credit assumptions: Prepayment and default speeds/recoveries Pricing assumptions/discount margins Vigorous quality control checks by our team of evaluators Market news from Reuters editorial staff CLO ANALYSIS Visualize the overall health of your CLO portfolio and it s underlying assets Our on-line CLO analysis platform (LPC Collateral) focuses on the loans that generate cash flow by mapping our loan pricing service to the loan asset pool on a daily basis. This allows you to show the overall health of the portfolio that backs your assets. By monitoring individual asset prices, you can quickly identify problem assets at risk of default on the interest or the loan itself either of which negatively affects the value of your CLO portfolio. With our service you can: View the underlying assets of your CLO universe in a standardized format Sort and search CLO holdings data and identify exposure to specific assets or issuers Monitor CLO performance over time Chart trades against loan prices from the Thomson Reuters Pricing Service Run Market Value Analysis and NAV scenarios on CLO tranches, as well as highlight important portfolio breakdowns WHY THOMSON REUTERS? Global data coverage Thomson Reuters has extensive coverage of market data, evaluated and contributed pricing, corporate actions data, legal entity and compliance data, and other differentiated content. Transparent and trusted provider: We bring transparency for CLOs and their underlying assets, and have been a trusted provider of information to the syndicated loan community since Managing Valuation Risk We have made major investments in bringing accurate, transparent pricing for hard to price fixed income securities and credit derivatives to clients. Our professional evaluated pricing service is delivered by a team of more than 100 experts around the globe, who are in constant contact with market participants. Better data quality, integration and support We have decades of experience in integrating and distributing market data, ensuring data quality out of the box. 24/7 Service Our global service centers can offer you support around the clock and our local account teams can respond quickly to your queries. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 16 Thomson Reuters Pricing & Reference Data

17 THOMSON REUTERS PRICING SERVICE DERIVATIVES EVALUATION Transparent, independent and accurate evaluated pricing. REUTERS/Lucas Jackson Thomson Reuters Pricing Service offers independent, accurate and timely pricing of derivatives. The service covers all derivative asset classes from plain vanilla to highly structured and exotic instruments. Thomson Reuters unique access to contributed, broker, and exchange data enables Thomson Reuters to provide the most accurate and up to date evaluations. Prices are delivered throughout the day or at market closing times around the world per client or regulatory requirements. The derivatives and structured notes evaluation service is available through Thomson Reuters DataScope Select. FUNCTIONALITY & FEATURES Complete Coverage Thomson Reuters provides complete coverage on all plain vanilla instruments and exotic classes. Our vast market data including cash prices (real-time and historical), market rates, combined with comprehensive financial libraries give Thomson Reuters the ability to evaluate all derivative asset classes. Thomson Reuters covers swaps and options including interest rate, credit default, commodity and currency, as well as exotic instruments such as structured and credit linked notes. Transparency you can count on All pricing inputs such as interest rates, credit spreads, and volatilities are available as output fields within DataScope Select. Customers have access to the evaluation team and can speak directly with them regarding methodologies and individual evaluations. All price challenges and queries will be answered within 24 hours. Easy to use Instruments can be uploaded through the DataScope Select user interface, standard data templates, or through customized solutions. Customers can customize output files for specific data fields and formats. Thomson Reuters support staff can assist all the way through the pricing workflow. Fast turnaround time All plain vanilla instruments can be added to the client portfolio and priced on a same day basis. Complex and structured instruments can take up to an average of 24 hours. In-house financial engineering group Thomson Reuters Financial Engineers will model all complex transactions, map to appropriate market data, and test results. Thomson Reuters Pricing & Reference Data 17

18 THOMSON REUTERS PRICING SERVICE DERIVATIVE EVALUATIONS With Thomson Reuters DataScope Derivatives Pricing Service you have access to our extensive pricing and reference data offering so you can get the market data you need from a single source. The sample below shows the main asset classes we cover. For the full list of assets, please contact us. ASSET CLASS COVERAGE METHODOLOGY/INPUTS Plain Vanilla Interest Rate Credit Currency Interest Rate Swaps,Bond Forwards, Bond Options, Swaptions, Caps & Floors Bond CDS Loan CDS Index CDS Options Spots Forward Proprietary zero coupon swap curves derived from network of contributed market rates. Broker quoted implied volatilities from interest rate option markets. Credit spreads obtained from multiple broker/dealers and monitored by evaluation team. Spot rates, forwards rates, and volatilities are obtained from contributing broker dealer network. Equity Options Spot and historical prices directly from exchanges. Commodity Exotic Interest Rate Inflation Credit Currency Equity Commodity Options Forwards Calendar Swaps Range Accruals Spread Notes Hybrid Notes Inflations Swaps Inflation Linked Notes Bond Total Return Swaps Loan Total Return Swaps Credit Linked Notes Swaps Baskets Total Return Swaps Barrier Options Asian Options Binary Options Equity Linked Notes Total Return Swaps Commodity Linked Notes Implied volatilities from listed options across all tenors and strike prices. Spot and historical prices directly from exchanges. Proprietary zero coupon swap curves derived from network of contributed market rates. Broker quoted implied volatilities from interest rate option markets. Internal and external interest rate simulation models. Underlying cash prices obtained from Thomson Reuters Pricing service. Spot rates, forwards rates, and volatilities are obtained from contributing broker dealer network. Spot and historical prices directly from exchanges. Implied volatilities from listed options across all tenors and strike prices. Spot and historical prices directly from exchanges. ADVANTAGES Extensive global market data The Thomson Reuters data network includes transmissions of all exchanges, contributed broker/dealer data, and actual live trading markets. Thomson Reuters swap rates are used globally and represent standard rates for market participants Thomson Reuters Dealing is the market leading, peer-to-peer trading application with a community of approximately 19,000 users in 120 countries. It is the largest, most established FX and money market community in the world Over 2,500 credit curves are obtained from the dealer community and are closely monitored by our fixed income evaluation team Consistent, accurate evaluations Thomson Reuters incorporates stringent quality control procedures to ensure accurate evaluations. Evaluators monitor market data feeds, test pricing models, and view all final prices prior to delivery. Access to evaluation staff Thomson Reuters experienced evaluation staff are available to answer all methodology and coverage questions. With staff in Tokyo, London, and New York, we are able to respond quickly to all queries and price challenges. Staff members are knowledgeable in all derivative asset classes and specific client deliveries. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 18 Thomson Reuters Pricing & Reference Data

19 THOMSON REUTERS PRICING SERVICE PLUS STRUCTURED NOTES & OTC DERIVATIVES A transparent and tailor-made valuation service for your structured notes and OTC derivatives. Regulations such as Dodd-Frank and the European Market Infrastructure Regulation (EMIR) are devoting a great deal of attention to illiquid and complex instruments, with a particular focus on derivatives and structured products. Highly transparent valuations are required to meet these stringent requirements. THOMSON REUTERS PRICING SERVICE PLUS Thomson Reuters Pricing Service Plus (TRPS Plus) offers tailor-made and transparent valuations, along with risk calculations for structured notes and hard-to-value over-the-counter (OTC) derivatives. This award-winning service guarantees full access to the pricing process: cashflow descriptions, market data inputs, numerical methods and model assumptions to help you address your transparency and regulatory requirements. TRPS Plus covers over 650 structured notes and derivatives and is now available on DataScope Select. Combined with legacy Pricing Partners financial library, TRPS Plus effectively supports all standard or non-standard derivatives pricing without limit. KEY FEATURES ON-DEMAND PRICE CHALLENGES Direct access to your portfolio valuation and associated dynamic pricing file (calculator excel sheet), allowing you to challenge the intermediary pricing step by step A team of experts are ready to assist and verify any price discrepancy between our valuation and issuer/vendor price RISK CONTROL Risk measures are available at trade level through direct access to the excel calculation files, allowing the ability to produce Credit Value Adjustment (CVA), Debt Value Adjustment (DVA), VaR, CVaR & Greeks. MOST UP-TO-DATE MARKET DATA All methodologies are supported with stringent quality control checks. FLEXIBLE DELIVERY Valuation reports are delivered by: Web services FTP DataScope Select Other platforms REUTERS/Arnd Wiegmann BENEFITS 100% TRANSPARENT PRICING PROCESS Direct access to the entire pricing process and full breakdowns: review payoff description; audit market data used; analyze model assumptions; adjust calibration and numerical methods Direct access to dynamic excel calculation files: plug and play with various market data and models assumptions to measure and analyze the impacts on the price TAILOR-MADE VALUATION SERVICES Option to include both evaluated price and risk indicators such as Greeks in valuation reports Valuation reports are produced according to your desired frequency (intraday, daily, weekly, bi-monthly, monthly, etc.) and output information (options, zero-coupon, fix leg, etc) ABOUT THOMSON REUTERS PRICING SERVICE Thomson Reuters Pricing Service (TRPS) is a global solution that covers over 2.5 million fixed income securities, derivatives and loans, priced daily. Prices are delivered throughout the day or at market closing times around the world depending on the asset class, with supporting commentary to provide insight on the day s events. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com Thomson Reuters Pricing & Reference Data 19

20 ENTITY RISK SOLUTIONS: WE CONNECT THE DATA. SO YOU GET THE FULL PICTURE. Thomson Reuters Entity Risk data provides you the most complete and comprehensive way to understand today s complex corporate structures, including the ability to see multiple countries of risk. To find out more, prd.community@thomsonreuters.com or visit prdcommunity.com LEARN HOW YOU CAN ACCESS RISK DATA ON: 1 Million Entities+ 250 Markets+ Global Coverage Corporate Relationships Countries of Risk Full Hierarchy Full Cross Asset Integration Auditable Sources 2015 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

21 THOMSON REUTERS ENTITY RISK THOMSON REUTERS FINANCIAL AND RISK MANAGEMENT SOLUTIONS Know more about the companies you invest in. REUTERS/Kieran Doherty Thomson Reuters Entity Risk is the most complete and comprehensive data source available for understanding complex corporate structures. Get a linked, 360-degree view of global legal entities and untangle the complex dimensions of modern corporations, which may have hundreds of subsidiaries spanning multiple regions, geographies and activities. DEPTH AND BREADTH OF COVERAGE Thomson Reuters Entity Risk offers depth of coverage from information about the issuers themselves to other critical wholesale market participants and equity and fixed income instruments associated with them. With a universe of over 1 million entities across 250 markets and complete cross asset integration, the platform gives you clear visibility into the organisational structures of parent entities, their subsidiaries, joint ventures and affiliates in a hierarchical view. TRANSPARENT AND USER FRIENDLY FROM SOURCES YOU CAN TRUST An audit trail links to auditable sources including exchanges, company registrars, 10K filings, regulators, annual reports and prospectuses. It is presented in a concise, manageable and user-friendly format. Audit trail support enables you to view exactly how entity data was sourced. DELIVERING OPERATIONAL EFFICIENCY The Thomson Reuters Entity Risk team manages the process of collecting, cleansing, crossreferencing, and storing the information required for today s demanding environments; eliminating the need for financial firms to manage this time-consuming, costly, and errorprone work. Produced by a truly global team of hundreds of market analyst across the world, in 50 languages from sources you can trust. ABOUT THOMSON REUTERS FINANCIAL AND RISK Financial & Risk provides critical news, information, analytics and transaction capabilities for trading, investing, financial and corporate professionals, and also offers leading regulatory and operational risk management solutions. Financial & Risk s products and services help our customers discover profitable insights and opportunities, access liquidity, drive efficiencies in their business and operations, anticipate risk and ensure compliance. Risk Provides a comprehensive suite of solutions designed to help our customers address pricing and valuation, enterprise risk management, compliance management, audit management, financial crime, antibribery and corruption issues and board of director services. Thomson Reuters Pricing & Reference Data 21

22 THOMSON REUTERS ENTITY RISK A SINGLE SOURCE FOR COMPLETE COVERAGE ENTITY TYPES UNIVERSE OF ENTITIES Public companies: issuers of equity and debt Relevant private companies with a focus on wholesale participants in capital markets: banks, broker/dealers, insurance companies, securities services Public sector organizations: sovereigns, municipalities, and local governments Funds tied to Investment Management and Fund Support Companies TYPES Academic Institutions Government Non-Government Organization (NGO) Collective Investment Government Department/Agency Supranational Company Market Participant SUBTYPES Bank Financial Exchange Investment Manager/Advisor OTC/Electronic Terminal Bank/Financial Holding Company Financial Intermediary Investment Promotion Agency Pooled Investment Business School Geo-Political Group Law School Regulatory Agency Central Bank Government Owned Corporation Legal Fund REIT Close Ended Fund Hedge Fund Manager Local Government Savings and Loan Association College/University Hedge Fund Manager (corporate) Market Maker Securities Firm Corporate Hedge Fund (Offshore) Medical School Special Purpose Vehicle Credit Union Hedge Fund (Onshore) Membership Organizations State/Provincial Government Economic Alliance Institutional Fund National Government Treasury Economic Development Agency Insurance Company Organization Branch Treaty Organization Elementary/Primary school Investment Company Organization Division ENTITY RISK FIELDS & IDENTIFIERS ENTITY RISK DETAIL FIELDS Audit Modified Date Audit Source Audit Source Reference Audited Field Name ID ID Type Legal Entity KYC as a Service Official Name RCP ID User Defined Identifier INSTRUMENT AND ENTITY IDENTIFIERS USED FOR MAPPING RIC CUSIP SIN SEDOL KYC as a Service ENTITY LEI Name Country ENTITY RISK HIERARCHY Entity ID Entity is Managed Entity is Verified ID ID Type ID Type Immediate Parent ID Immediate Parent Official Name Immediate Parent KYC as a Service Legal Entity KYC as a Service Node/Level Official Name RCP ID Related Entity ID Related Entity is Managed Related Entity is Verified Related Official Name Related KYC as a Service Relationship Type Ultimate Parent ID Ultimate Parent Official Name Ultimate Parent KYC as a Service User Defined Identifier 22 Thomson Reuters Pricing & Reference Data

23 THOMSON REUTERS ENTITY RISK ENTITY RISK DETAIL FIELDS (ORANGE INDICATES PERMISSION REQUIRED) Admin Status Geographic Focus Registered Country Admin Status Is Confirmed GICS Industry Code Registered Country Description Admin Status Reason GICS Industry Code Description Registered Fax Administrator EntityID Has Affiliates Registered Postal/Zip Code Administrator Official Name Has Joint Venture Registered State/County/Region Administrator KYC as a Service Has Subsidiary Registered Street1 Advisor EntityID Headquarters City/Town Registered Street2 Advisor Official Name Headquarters Country Registered Street3 Advisor KYC as a Service Headquarters Country Description Registered Street4 Auditor EntityID Headquarters Fax Registered Street5 Auditor Official Name Headquarters Postal/Zip Code Registered Telephone Auditor KYC as a Service Headquarters State/County/Region Regulation Flag CIK Headquarters Street1 S&P Issuer Ratings Company/Registration Authority Headquarters Street2 Sanctions Status Company/Registration Number Headquarters Street3 SIC1 Country of Incorporation Headquarters Street4 SIC10 Country of Incorporation Description Headquarters Street5 SIC2 Custodian EntityID Headquarters Telephone SIC3 Custodian Official Name ID SIC4 Custodian KYC as a Service ID Type SIC5 Date of Incorporation Immediate Parent Official Name SIC6 Derived Parent Entity ID Immediate Parent KYC as a Service SIC7 Derived Parent Official Name Immediate Parent RCP ID SIC8 Derived Parent KYC as a Service Immediate Parent Reuters Editorial RIC SIC9 Derived Parent RCP ID IPO Date Sub Advisor EntityID Derived Parent Reuters Editorial RIC Is Guarantor Sub Advisor Official Name Derived Ultimate Parent Entity ID Is Issuer Sub Advisor KYC as a Service Derived Ultimate Parent Official Name Is Managed Successor Official Name Derived Ultimate Parent KYC as a Service Is Public Successor KYC as a Service Derived Ultimate Parent RCP ID Is Verified Successor RCP ID Derived Ultimate Parent Reuters Editorial RIC Jurisdiction of Incorporation Tax Authority Distributor EntityID Legal Entity Detail Last Change Date Tax File ID Distributor Official Name Legal Entity KYC as a Service TRBC Business Sector Code Distributor KYC as a Service Legal Entity SubType TRBC Business Sector Code Description Domicile Legal Entity SubType Description TRBC Economic Sector Code Domicile Desciption Legal Entity Type TRBC Economic Sector Code Description Enforcement Status Legal Entity Type Description TRBC Industry Code Entity Create Date Legal Form TRBC Industry Code Description Entity ID Entity LEI TRBC Industry Group Code Entity Modified Date Moodys Issuer Ratings TRBC Industry Group Code Description Entity URL NACE Code Ultimate Parent Official Name Event Date NAICS Ultimate Parent KYC as a Service Event Type Official English Name Ultimate Parent RCP ID Event Type Description Official Name Ultimate Parent Reuters Editorial FATF Jurisdiction Official Transliterated Name User Defined Identifier Fitch Issuer Ratings Primary Regulator Fund Lipper ID Primary Regulator ID Fund Manager EntityID RCP ID Fund Manager Official Name RCP Reuters Editorial RIC Fund Manager KYC as a Service Record Active Flag Registered City/Town Thomson Reuters Pricing & Reference Data 23

24 THOMSON REUTERS ENTITY RISK THOMSON REUTERS ENTITY RISK BY THE NUMBERS: Over 1 million entities Across 250 markets Cross asset integration Hundreds of dedicated content experts 100+ legal entity attributes Auditable sources MAINTAINED AND UPDATED BY A DEDICATED GLOBAL TEAM This product is built and maintained by a dedicated global team of hundreds of editors, market analysts, content specialists and Six Sigma Black Belts quality assurance experts. The data is manually verified using detailed market-based process rules guaranteeing the delivery of world-class, auditable, and transparent content. FLEXIBLE DELIVERY OPTIONS Thomson Reuters Entity Risk is available via the DataScope delivery platforms, which are easy to integrate within existing workflows and offer a flexible set of implementation options both deployed and hosted browser-based, FTP and REST or SOAP API. THOMSON REUTERS HOSTED DATASCOPE SELECT Thomson Reuters DataScope Select is the strategic data delivery platform for non-streaming cross-asset content globally, which can be deployed almost instantaneously. The platform can be integrated by financial firms through three interfaces including browser based, FTP and REST or SOAP API. THOMSON REUTERS DATASCOPE ONSITE A Thomson Reuters managed system is deployed to the customer site this box and leased line setup is typically installed outside clients internal firewalls (in a DMZ) and holds a Sybase Database, which is updated automatically from Thomson Reuters data. Clients have SQL access to the content in the DataScope Onsite product. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 24 Thomson Reuters Pricing & Reference Data

25 THOMSON REUTERS ENTITY RISK COUNTRIES OF RISKS FOR LEGAL ENTITIES A new way to see the bigger picture. How do you manage risk when the companies you invest in are complex, international, and face a myriad of regulatory regulations? How do you assess the risk exposure to a legal entity that is headquartered in a relatively safe country, but has key subsidiaries spread across more volatile, less known locations? UK 1% France 1% Italy 1% Russia 1% SEE AND QUANTIFY YOUR RISK EXPOSURE WITH COUNTRIES OF RISK This new offering provides you with a key piece of the risk picture, available exclusively from Thomson Reuters. No one else gives you such clear visibility into the credit risk of countries where a particular corporation does business. US 68% Brazil 1% Japan 2% China 6% India 2% Instantly see where your risks lie for a particular corporation, including: The primary country of risk is for that company The next nine other countries with the greatest risk exposure A coup in Nigeria? Crisis in Greece? Know with certainty what the risk exposure is to the entities in your portfolio. COUNTRIES OF RISK EXAMPLE IN ACTION You invest in a Spanish paper product company that you learned was majority-owned by a big company with US headquarters and incorporated in the US. You might assume it was only US-exposed. But is it? What if there was a strike in China? What would the impact be? Providing multiple views of Countries of Risk helps evaluate the true exposure to a firm. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com STARMINE ANALYTICS AND EXPERTISE ENSURE OBJECTIVE, ACCURATE, ACTIONABLE DATA Countries of Risk is based on a combination of analytics, algorithms and human intelligence from StarMine. Our analysts weigh these factors in determining the countries that have the greatest risks: Revenue by geography Company headquarters country Trading country of primary security listing Filing currency country The StarMine analysis takes opinion and guesswork out of the equation. The result is data that is unbiased, verifiable, and auditable proof of due diligence. It s this simple: today you need solutions that fit the complexity of global legal entities. To only look at the country of a company s headquarters often misses underlying exposure risks that could affect both your portfolio s performance and your compliance requirements. Countries of Risk ensures you see the full risk exposure, no matter where a company does business. ABOUT THOMSON REUTERS FINANCIAL AND RISK Financial & Risk provides critical news, information, analytics and transaction capabilities for trading, investing, financial and corporate professionals, and also offers leading regulatory and operational risk management solutions. Financial & Risk s products and services help our customers discover profitable insights and opportunities, access liquidity, drive efficiencies in their business and operations, anticipate risk and ensure compliance. Risk Provides a comprehensive suite of solutions designed to help our customers address pricing and valuation, enterprise risk management, compliance management, audit management, financial crime, anti-bribery and corruption issues and board of director services. Thomson Reuters Pricing & Reference Data 25

26 TOOLS TO HELP YOU NAVIGATE THROUGH A SEA OF REGULATION REGULATORY DATA THAT KEEPS YOU ON THE RIGHT COURSE Only Thomson Reuters has the depth and breadth of data, the global footprint, local knowledge and proven experience to deliver the exact data you need to not just comply but thrive anywhere you do business. Step by step guidance for cost-effective compliance, across the board, across the globe, including specialist data sets for: Basel III Dodd-Frank EMIR FATCA IFRS Russian Sanctions Shareholding Disclosures Solvency II + More To find out more, simply prd.community@thomsonreuters.com or visit prdcommunity.com 2015 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

27 THOMSON REUTERS FOR FATCA GRANDFATHERED OBLIGATIONS YOUR CRITICAL PARTNER TO HELP MANAGE REGULATORY CHANGE FAST FACTS ON FATCA The Foreign Account Tax Compliance Act (FATCA) is an effort by the U.S. Congress to identify U.S. persons who have attempted to hide their income from U.S. tax authorities and end this type of tax evasion. FATCA also imposes a withholding tax, when the required documentation and/or reporting requirements are not met. Banks will need to register as a Foreign Financial Institution (FFI) and report to the IRS or become recalcitrant. With all the challenges and complexity of FATCA (Foreign Account Tax Compliance Act) withholding beginning July 1, 2014, are you ready to identify which specific instruments are grandfathered and exempt from withholding? Thomson Reuters is your critical partner to help you manage this regulatory change. Our new FATCA GO solution combines market-leading content widely used by organizations around the world. You will have access to a full securities report identifying which securities are eligible for exemption and which are grandfathered, providing you with a complete view and eliminating the need to create your own development program to identify GO flags. IDENTIFY AND MANAGE GRANDFATHERED OBLIGATIONS By definition, a grandfathered obligation is one that is outstanding on June 30, Interest and gross proceeds from the sale or other disposition of a grandfathered obligation are exempt from FATCA withholding. Any material modification (which is determined based on the relevant facts and circumstances) to a grandfathered obligation will cause it to lose its grandfathered status. MORE WAYS TO OVERCOME INDUSTRY CHALLENGES Identify which securities are subject to FATCA withholding and which are exempt Identify grandfathered securities or contractual obligations Define and monitor material modification of grandfathered obligations that would cause them to lose their exempted status Establish processes to monitor material modifications Integrate the Grandfathered Obligation status into the withholding process ELIGIBLE SECURITIES FOR FATCA GO Government/Corporate Debt MBS Pools (Fixed and ARMs) Agency CMOs (Fannie Mae, Freddie Mac, Ginnie Mae securitizations) RMBS (non agency residential securitizations) CMBS Consumer ABS (autos, credit cards, student loans) THOMSON REUTERS FATCA GO REPORT INCLUDES: Reference Data: Grandfathered Obligation & Legal Entity Classification Security IDs (CUSIP, ISIN) FDAP Flag: Y/N Grandfathered Flag: Y/N FATCA Audit Field: Shows the attributes used for GO determination and needed for reconciliation FATCA Date of Last Update: dd/mm/yyyy FATCA Materially Modified Flag: Y/N FATCA Material Modification Date: Date on which terms and conditions of the Grandfathered instrument changed its state as of the FATCA effective date of July 1, 2014 Thomson Reuters FATCA GO filters over 12 million active records to determine which securities are grandfathered. It integrates the grandfathered obligation status into the withholding process and tracks material modifications. Thomson Reuters FATCA GO solution is powered by the Thomson Reuters DataScope Suite. Thomson Reuters DataScope is the strategic data delivery platform for non-streaming content globally. It provides a full cross-asset offering with intelligently linked data for all Thomson Reuters DataScope content including reference data, corporate actions, legal entity data, end-of-day/intraday pricing and evaluated pricing services. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com Thomson Reuters Pricing & Reference Data 27

28 RUSSIAN SANCTIONS TRACKING SERVICE BETTER MANAGE YOUR RISK In 2014 the European Union (EU) and the Office of Foreign Assets Control (OFAC) issued a number of executive orders and sectoral sanctions against Russia in retaliation for the Russian government s annexation of Crimea and activities to destabilize Ukraine. The EU and OFAC sanctions are an unprecedented event where individual companies are being surgically targeted for sanctions in a market that is widely held by American and European investors. The intent of the sanctions is to limit the ability of select Russian banking, energy, and military concerns to finance their operations through western capitals markets. The result of these sanctions creates a big impact on investment and trade compliance as financial institutions and infrastructure providers must ensure they do not trade specific new debt or equity issued by sanctioned entities. The sanctions also apply to any subsidiary of a sanctioned entity, which further complicates the tracking process. THOMSON REUTERS SANCTIONS TRACKING SERVICE Thomson Reuters Russian Sanctions Tracking service provides all the required information on sanctioned entities, their subsidiary relationships, and all instruments that are impacted by the sanctions. As a result, It enables you make the best investments in Russian businesses and do so in accordance with the sanctions currently in place. Key Features Proactive tracking of Sectoral Sanctions Identifications SSIs identified in OFAC/EU directives Tracking of new instruments issued by SSIs issued prior to July 16 (legal to trade) and those issued on or after July 16 (illegal to trade) Regular refresh of entity and instrument sanctions list and proactive alerts for any new issues Access to support analysts for specific queries and research 200+ market analysts across the world, in 50 languages Corporate relationships Auditable sources Quality control and quality assurance built into data collection processes MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com WHY THOMSON REUTERS? Transparent depth and breadth of Entity data Our extensive universe of over 1 million entities across 250 markets, includes the organisational structures of parent entities, their subsidiaries, joint ventures and affiliates, all from auditable sources you can trust. Streamlined Delivery Content is delivered to you via Thomson Reuters DataScope Select a robust and scalable delivery platform used by over 2300 firms worldwide. Unique services and proven expertise Thomson Reuters offers Russian Sanctions monitoring through its leading World-Check suite of products. This service monitors over 400 sanction, watch and regulatory law and enforcement lists, and hundreds of thousands of information sources, often identifying highrisk entities months or years before they are listed. World-Check currently exceeds terrorist coverage on the four leading sanctions (OFAC, EU, UN, UK HMT) by more than 70,000 records. Better data quality, integration and support We have decades of experience in integrating, distributing market data, ensuring data quality out of the box. Global presence Thomson Reuters is committed to providing support, account management, hosting, development and exchange relationships, worldwide. 28 Thomson Reuters Pricing & Reference Data

29 THOMSON REUTERS FOR SHAREHOLDING DISCLOSURES Monitor thresholds of ownership accurately so you can report with confidence Increasingly stringent regulatory requirements mandate that asset managers monitor and report any breach in a threshold of ownership of a given issuer. But calculating percentage ownership creates a significant challenge due to the complexity of rules, high volume of disclosures, and the availability of accurate data on outstanding shares. Thomson Reuters allows you to monitor the threshold of ownership in the share capital of a given issuer, leveraging our comprehensive content, fundamentals, reference data, and total shares and voting rights. THOMSON REUTERS HELPS YOU ANSWER THE REPORTING CHALLENGE Our Shareholding Disclosures allow you to monitor the threshold of ownership of a given issuer by providing you with accurate, quick, and reliable access to: Shares and voting rights collected from over 150 reliable and timely sources across 99 countries Total shares and votes data at instrument and issuer level for all classes of shares (including unlisted share classes) All share types covered (issued, listed, outstanding, treasury) at issuer and instrument level Reference data and analytics required to support disclosures (e.g., industry classifications, deltas, depository receipts, and more) Detailed review of all sources, field definitions, procedures, and quality checks for every major market WHAT THOMSON REUTERS OFFERS YOU: Accuracy of shares outstanding content Our collection methods are based on detailed review and audit of all sources, field definitions, procedures, and quality checks for all major markets in collaboration with leading buy-side institutions. Precise and unique data Thomson Reuters offers a large number of fields that allow you to conduct more precise calculation on total shares and voting rights denominators including all listed/unlisted share classes, support for all the share types that may be required by local regulators (listed, issued, treasury, outstanding), reference data, and analytics. Outstanding service Thomson Reuters successful and long-standing collaboration with leading buy-side institutions has allowed us to create a trusted and reliable service for our customers. Our team of content and service experts across the world has deep domain knowledge and is available to service customers 24x5. Focus on quality assurance All terms and conditions data is validated by Thomson Reuters through an extensive quality assurance program. We employ over 100 database validations on our source databases to check data before it reaches our products. Flexible delivery Thomson Reuters DataScope provides access to data across a wide range of delivery platforms, making it easy to integrate into your enterprise. It offers immediate access via request/retrieve to comprehensive reference data and pricing in a user-friendly, customizable Web interface, which offers delivery by FTP, CSV, and XML with custom file layout. If we can help you produce accurate, reliable, significant shareholder reporting you can deliver with confidence, please prd. community@thomsonreuters.com or visit prdcommunity.com. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com Thomson Reuters Pricing & Reference Data 29

30 THOMSON REUTERS SOLVENCY II DATA SERVICE Thomson Reuters is the world s leading source of intelligent information for businesses and professionals. Through our award winning pricing and reference content sets we are now able to offer market practitioners a dedicated Solvency II Data Service information feed. This service helps subscribers in meeting their Pillar I and Pillar III obligations under Solvency II and provides them with the necessary data needed to assess their capital adequacy. BACKGROUND In light of the guidelines set down for financial institutions by the Basel Committee on banking supervision, the Solvency II regulatory insurance framework and the advice from the European Insurance and Occupational Authority (EIOPA): Insurers and their asset servicers are now obliged to have a deeper understanding of the trading and investment risks that they have entered into and/or are connected to and the levels of capital that they need to keep in reserve. No longer can related firms solely focus their attention on the potential returns they may obtain, but must now actively consider their risk exposure to their current and future investments, over prolonged periods of time and must ensure that they have sufficient capital reserves to meet any potential risks that they may face at any stage during the agreed timeframe. In many cases the obligation to provide this data is falling to asset servicers such as Asset Managers, Fund Administrators and Custodians in addition to third party vendors who support differing Insurers. The general pricing and reference data requirements for these requirements are outlined in the graph below. Asset Servicers, Asset Managers, Custodians, Fund Administrators, Other PILLAR 1 Granular Data Requirements Investment data at security level PILLAR 2 Continuous Data Requirements Investment data required to track investment exposure and risk PILLAR 3 Comprehensive Data Requirements Investment data reported by non standard instrument classifications SOLUTION The Thomson Reuters Solvency II Data Service addresses these challenges by providing subscribers with access to the key data sets they need to suitably power their risk mitigation, capital adequacy and disclosure tools. Furthermore the feed enables Insurers and their asset servicers to obtain a detailed look-through for their investments and funds of investments going from issuer to security at all levels and provides the necessary referential content sets they need to map these instruments. Subscribers can also forward project their risk up to 120 years, using the specialist Solvency II curves. Specifically this data feed helps subscribers to: Undertake market-based valuations of their assets and liabilities on a security by security basis Calculate their minimum capital requirements (MCR) and the solvency capital requirements (SCR) Access the necessary identification codes required for mapping and reporting purposes under the directives Obtain look-through data on funds and other investment structures in order to identify the ultimate asset Generate a composite rating or provide a Credit Quality Step (CQS) to support the required Quantitative Report Templates (QRT) The following chart outlines the key content sets Insurers and their asset services can expect to obtain from Thomson Reuters. Type of Data # Data Examples Items Instrument 11 Currency (ISO), Maturity Date, Identifier, Name, Strike, CIC, Duration Geography 2 Issuer Country, Geographical Zone of Issue Classifications 1 Issuer Sector Income 2 Dividends, Interest Valuation 1 Asset Price Risk 1 Notional for Futures and Options Structured 7 Fixed Annual Return, Call or Put, Variable Annual Return Issuer 4 Issuer Name, LEI Code, Issuer Group, Counterparty Group Agency Ratings 2 Name of Credit Rating Agency, Actual External Rating Collateral 3 Collateral Type, Underlying Asset of Securitization, Group of Debtor SCR/MCR* ORSA QRT Solvency II Regulatory Reporting *SCR Solvency Capital Requirements; MCR Minimum Capital Requirements 30 Thomson Reuters Pricing & Reference Data

31 THOMSON REUTERS SOLVENCY II DATA SERVICE The following chart explains in greater detail what the differing components of this Data Service are, and how they can help subscribers to deal with this challenge, please note this is not an exhaustive representation of the value this service offers to subscribers. Requirement Challenge How Thomson Reuters can help? Disclosure and transparency: Obligation to produce and submit Quantitative Report Templates (QRT) on a quarterly basis. Capital adequacy: Valuations for calculating Solvency Capital Requirements (SCR). Capital adequacy: Constituent securities and issuers in fund holdings as inputs to SCR. Credit Quality Steps (CQS): As an input to QRT and SCR. Sourcing and mapping data The templates are complex and it is difficult to understand the granular data requirements, and then to map the correct data to the appropriate field in the template for disclosure. IMPACT: Errors or omissions in reporting will result in additional ad hoc reporting, or even additional capital requirements where regulators are dissatisfied. Complex data requirements for calculating MCR & SCR Practitioners are expected to obtain complex data sets from multiple sources and to process these in a timely manner in order to calculate their capital requirements. - Value of assets and liabilities, given the liquidity requirements, this needs to be calculated on an almost daily basis - Securities issuer sector and rating classification to understand the attributes/risk profile of securities the insurance company holds and the issuers concerned. IMPACT: Requires sourcing and updating of multiple data sets, plus transparency into the underlying data sources and methodologies used. Finding fund holdings data ( look-though data) In order to understand their exposures, Insurers need to identify and classify the contents of fund holdings by asset and issuer across hundreds of asset managers and then aggregate this data across holdings. IMPACT: Without an accurate view of their investment holdings, insurance companies will face higher Solvency Capital Requirements. However, the effort involved in collecting and cleansing this data across all fund portfolios is enormous. Generating a Credit Quality Steps number Insurers are required to report a rating for their holdings; this rating is the 2nd best one, which is likely to be the CQS introduced under Basel II. The CQS is based on ratings from multiple Credit Rating Authorities (CRAs). IMPACT: There is a significant data management overhead in sourcing the data and calculating CQS. Reduce data management burden with QRT mapping Thomson Reuters has identified the required data for reporting in the QRT. Reduce effort and the risk of errors in sourcing and formatting the data required for reporting, and streamline the generation of reports. Simplify SCR & MCR calculations with comprehensive and transparent pricing and classification data inputs Thomson Reuters provides independent evaluated pricing with specific Solvency II attributes as well as benchmark curves with up to 120 years maturities, Last Liquidity Point (LLP) and Ultimate Forward Rate (UFR) to value assets and liabilities. In addition we have securities and issuer classifications including CICs (instruments), NACE codes, LEIs (entities), and issuer credit ratings. Simplify the sourcing and updating of data required for SCR & MCR calculations. Reduce Solvency II Capital Requirements with an accurate and transparent view of assets across fund holdings Thomson Reuters DataScope platform provides access to our proprietary Lipper global fund holdings data for constituent data, enriched with additional security-level information such as CIC codes and NACE codes. This enables subscribers to identify and classify fund holdings constituents; this data can then be aggregated across funds and with non-fund holdings. Simplify the gathering and validating of fund look-through data required to optimize Capital Requirements. Reduce the cost of creating a Credit Quality Steps number Thomson Reuters processes credit ratings feeds from multiple agencies around the world. We are able to deliver multiple feeds to clients to allow them to derive a composite rating/cqs number. Reduce the cost and effort involved in creating CQS numbers for Solvency II SCR calculations DELIVERY All this content can be delivered to you via feed from Thomson Reuters DataScope Select; a robust & scalable delivery platform used by over 2300 firms worldwide on a daily basis. The feed is fully flexible and subscribers may choose to access the whole feed or to take differing component sets of data depending on their specific requirement. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com Thomson Reuters Pricing & Reference Data 31

32 THOMSON REUTERS DATASCOPE REFERENCE DATA GLOBAL AND COMPLETE DATA COVERAGE FUNCTIONALITY AND FEATURES DEPTH AND BREADTH OF DATA Counterparty and Entity Data Thomson Reuters Entity Risk is the most complete and comprehensive data source available for understanding complex corporate structures. With a universe of over 1 million entities across 250 markets and complete cross asset integration, the platform gives you clear visibility into the organisational structures of parent entities, their subsidiaries, joint ventures and affiliates in a hierarchical view. Ease the burden of compliance by meeting global regulatory obligations and mitigate your risk exposure through cross-asset instruments and Countries of Risk integration for a linked 360-degree view of exposure. Reference Data, Terms and Conditions Provides full terms and conditions data, including ratings and descriptive content, for each asset type. We maintain extensive market-level and issue-level industry standard numbering codes associated with each equity instrument including official clearing code identifiers (SEDOL, CUSIP, ISIN, CINs, Wertpapier, SICC, Local Exchange codes MIC/ OPOL), Classifications such as GICS, Thomson Reuters proprietary (Thomson Reuters Instrument Codes), Thomson Reuters internal system-generated company level, issue level, and quote level codes. All futures and options carry underlying Thomson Reuters Instrument Codes for easy cross-referencing, linking and integration. Corporate Actions Corporate Actions data spans 98 countries, over 200 exchanges, approximately 94,000 companies, and more than 15 years history for all mature markets. Data delivery is intraday and measured on a four-hourly target, from source to database entry. Delivery format includes Thomson Reuters proprietary standard format and ISO years of history for emerging markets with comprehensive list of fields Same-day event coverage from announcement to completion apple Descriptive Data apple Industry Classifications apple Symbol/Cross Ref apple Historical apple Evaluated Pricing apple End-of-Day REFERENCE DATA HISTORICAL PRICING LEGAL ENTITY DATASCOPE SELECT apple Global Instrument-Issuer linkage apple Parent IDs and Full Corporate Hierarchies apple Audited Data CORPORATE ACTIONS LISTED MARKETS PRICING apple Intraday apple Global Coverage apple Historical apple ISO15022 apple Intraday Snapshot apple Validated End-of-Day apple Equity Analytics Funds Historical Time Series Pricing Thomson Reuters has approximately 20 years of price history available for established equity markets and 20+ years for Money and Index data. For most emerging equity markets, data goes back to the first day of trading. Subscribers to the DataScope History Service receive price histories for all live and delisted securities. For Futures markets Thomson Reuters has 10 to 15 years of history. All data is cross-checked and delivered in customized data sets, including: Reference Data with Terms and Conditions Corporate Actions Deep Analytics Pricing (Intraday, validated end-of-day, historical) Evaluated Pricing Service Flexible delivery Thomson Reuters DataScope delivers across a wide range of delivery platforms, making it easy to integrate into your enterprise. Immediate access via request/retrieve to comprehensive reference data and pricing via DataScope Select Intraday and End-of-day deliveries of corporate actions and pricing User-friendly customizable web interface which offers delimited text and XML custom file layouts delivered by FTP ISO industry-standard corporate actions messaging Regional and global packages via large-volume bulk delivery or customized, portfolio-based retrieval Symbol Cross Reference and Entity Management Our coverage includes many internal and external entity sources that span 2.9 million organizations, 2.4 million instruments, and 6.2 million quotes. Quality Assurance: All terms and conditions data is validated by Thomson Reuters through an extensive Quality Assurance program. Global reach, local knowledge with over 200 data experts dedicated to the collection, analysis and quality control of equity corporate actions content. Quality control and quality assurance built into data collection processes Over 100 database validations on our source databases, checking data before it reaches our products apple Evaluated Pricing apple Cash Flows apple Performance Data apple Models apple Analytics VALUATION PRICING SERVICES 32 Thomson Reuters Pricing & Reference Data

33 THOMSON REUTERS DATASCOPE REFERENCE DATA THOMSON REUTERS DELIVERS THE MOST COMPREHENSIVE MARKET AND REFERENCE DATA TO THE GLOBAL FINANCIAL AND INVESTMENT MANAGEMENT COMMUNITY GLOBAL FIXED INCOME COVERAGE Governments and Corporates Mortgages CMOS/ABS/CMBS Municipals Loans Treasuries Agencies Investment Grade Corporates High Yield Corporates Convertibles/Aggregates Generics TBAS ARMS Project Loans Pools Agencies CMOS Asset Back Securities CMBS Tranches Whole Loans Student Loans SBAs Active/Inactive Maturities SBAs Active / Inactive Loans Supranationals Certificate of Deposits Commercial Paper Eurobonds Collateralized Debt Obligations Collateralized Loan Obligations OTC DERIVATIVES (SUBSET) Interest Rate IRS Swaptions Caps and floors Total Return Swaps Credit Bond CDS Index CDS Loan CDS Equity Options Total Return Swaps Dividend Swaps Commodity Swaps Currency Options Forwards MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com COMPREHENSIVE CORPORATE ACTIONS EVENT COVERAGE Shares On Issue Multiple types including Outstanding, Issued, Listed, Free Float, Closely Held, Authorized Earnings Year to date and interim results. As reported and annualized figures Dividends Cash distributions, including special and extraordinary stock dividends as well as dividends with stock options annual, semi-annual, quarterly and monthly Comprehensive tax details including Withholding, QDI, Franked and Foreign investor tax rates Capital Changes Stock distributions including Rights Issues, Bonus Issues, Splits, Demergers and other capital restructures Cash events including Return of Capital, Share Buybacks IPOs and Follow On Offerings Equity issuance events, including IPOs, Direct Public Offerings, Placings, Rights Issues, Private Investment in Public Equity Mergers and Acquisitions FIXED INCOME Access to over 5.6 million active and retired securities Evaluated pricing for over 2.5 million securities, including: 175,000 Global Corporate and Sovereign, 1.1 million US Mortgage Backed Securities, 95,000 Global Asset Backed Securities, and 1.2 million US Municipal Bonds Terms and conditions for over 1.3 million US taxable fixed income securities, 200,000 loan facilities, 2.3 million US municipal securities (1.2m live), non-agency CMO s, Asset Backed securities and 450,000 international bonds spanning all asset subtypes Mark-to-Market pricing for US syndicated loans, in association with The Loan Syndications and Trade Association, and European syndicated loans Global premium evaluated pricing from the Thomson Reuters Pricing Service together with Thomson Reuters Composite Pricing Global broker/dealer contributions from over 600 contributors and exchange pricing from over 70 exchanges 60 global government yield curves with histories dating back to 1993 Over 175 proprietary analytics providing a full view on each fixed-income instrument daily including duration, convexity, OAS analytics and yield calculations Global ratings data from over 20 top agencies including S&P, Moody s, Fitch, ICMA and Dominion Bond Ratings Service, and key regional agencies in Asia such as JCR EQUITIES Global terms and conditions Minimum 20 years pricing history for G7 countries Global equities coverage including Equities (stocks, ADRs, GDRs), Warrants (equity, index, basket), Funds (exchange-listed, ETF, NAV), Indices, Options, Options on Futures, Futures, Money and FX (forwards and swaps) More than 3.2m securities worldwide (see chart at right). 1M 800K 600K 400K 200K 0 300K 745K 28K 87K 880K 865K 250K 57K Equities Warrants Indices Funds Options Options on Futures Futures Money Thomson Reuters Pricing & Reference Data 33

34 TO MANAGE THE IMPACT OF CORPORATE ACTIONS, TIME WAS NEVER ON YOUR SIDE. UNTIL NOW. Today more than ever, you need to access the broadest range of global corporate actions data quickly and efficiently. Learn how Thomson Reuters DataScope for Corporate Actions can help you accelerate efficiency, manage risk, and invest more profitably: 94,000 companies+ Over 98 countries Global coverage Full Terms & Conditions Processed in 90 minutes or less Flexible delivery formats including CSV, XML and ISO To find out more, simply or visit prdcommunity.com 2015 Thomson Reuters Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

35 THOMSON REUTERS DATASCOPE FOR CORPORATE ACTIONS EFFECTIVELY MANAGE YOUR OPERATIONAL RISK With the ever changing dynamic of the financial markets, accessing reliable information quickly and efficiently is crucial. The corporate actions market is complex and information has nuances that call for expertise. Whether you are focused on pre-trade or post-trade activities, Thomson Reuters DataScope for Corporate Actions offers a complete solution to support multiple processing activities across your enterprise. MITIGATE YOUR RISK EXPOSURE PROMPT AND ACCURATE DATA DELIVERY Thomson Reuters captures events as soon as they are announced in the market, delivering you the news and data you need to act quickly and confidently. Know first For Asia Pacific markets the data will be available on DataScope Select within 1.5 hours of the announcement. For the rest of the world the benchmark is 3 hours; in most cases publication turnaround time is shorter Rely on rich content dedicated teams with local market and language expertise collect, analyze and verify data, using multiple sources to create one record Achieve consistency our tagging system ensures you have a consistent, linked view of securities and how they roll up to their legal entities Minimize errors manual and automated quality control and assurance are built into the data collection process, verifying data on an event by event basis MANAGE YOUR DATA EFFICIENTLY ONE SOURCE FOR ALL YOUR CORPORATE ACTION NEEDS Serve the needs of your whole enterprise through one product. Thomson Reuters content includes extensive historical corporate actions events and data provided in our standard, proprietary format as well as in an ISO event format. Support activities across your business comprehensive content including Number of Shares, Voting Rights, Earnings, Dividends, Capital changes, IPOs and Mergers & Acquisitions (Public target companies) Talk to our experts our global team of corporate actions experts are available 24/5 via telephone, or chat Go beyond corporate actions access our full service including Evaluated Pricing, Security Cross Reference and Legal Entity, all linked and delivered via Thomson Reuters DataScope DELIVERED IN THE WAY YOU NEED IT FLEXIBLE OPTIONS AND PACKAGES Integrate the data you need in a way that works for your business. Thomson Reuters DataScope for Corporate Actions offers a variety of packages and delivery platforms. Easily integrate or extract the data you need deploy information almost instantaneously through a choice of customizable web interfaces and formats including FTP, CSV, XML and ISO Receive flexible updates Intraday corporate actions are available using quote or issue based instrument lists as well as broader, filecode extractions. M&A and IPO data is delivered hourly. Corporate Actions data is available via the DataScope delivery platforms, which are easy to integrate within existing workflows and offer a flexible set of implementation options both deployed and hosted browser-based, FTP and REST or SOAP API. Thomson Reuters Pricing & Reference Data 35

36 THOMSON REUTERS DATASCOPE FOR CORPORATE ACTIONS WHAT CONTENT IS INCLUDED? Breadth and Depth of Content Shares Voting Rights Earnings Dividends Capital Changes Meetings Fixed Income IPOs Mergers and Acquisitions Reference Changes Bankruptcy Information on over 68,000 companies from 97 countries, listed on more than 200 exchanges globally, with new markets added to the service regularly. Multiple types including Outstanding, Issued, Listed, Free Float, Closely Held and Authorized. Per share Voting Rights. Year to date and interim results. As-reported and annualized figures. Cash distributions, including special and extraordinary stock dividends with stock options. Annual, semi-annual, quarterly and monthly. Comprehensive tax details including withholding, QDI and Franked amounts. These events are also provided in ISO (MT564/568) format, in line with SMPG guidelines. Stock distributions including Rights Issues, Bonus Issues, Splits, Demergers and other capital restruc tures. Cash events including Return of Capital, Share Buybacks. These events are also provided in ISO (MT564/568) format, in line with SMPG guidelines. Annual General Meeting, Extraordinary General Meeting, Court Meeting and Ordinary Meeting events coverage for all the markets in ISO (MT 564/568) format, in line with SMPG guidelines. 9 Fixed Income Corporate Actions events in ISO (MT 564/568) format including Interest Payment, Full Call, Partial Redemption, Bond Default, Extension of Maturity and Final Maturity. Over 113,000 equity issuances. Event types: IPOs Direct Public Offerings. Over 395,000 deals available where Target is or was a public company. These include all Pending/Proposed deals as well as Completed/Cancelled deals from mid Event types: Acquisitions, Mergers of Equals, Open Market Purchases, Tender Offers, Leveraged Buyouts, Management Buyouts, Strategic Investments, Joint Ventures, Venture Capital, Reverse Takeovers, As set Acquisitions and Consolidations. MRGR and TEND events are also provided in ISO (MT564/568) in line with SMPG guidelines. Name change and Trading Status: Delist, Suspension and Active events in ISO (MT564) format, in line with SMPG guidelines. Bankruptcy details in ISO (MT564/568) format, in line with SMPG guidelines. MORE INFORMATION If you would like more information about this service simply prd.community@thomsonreuters.com or visit prdcommunity.com 36 Thomson Reuters Pricing & Reference Data

37 PLATTS MARKET DATA ON THOMSON REUTERS DATASCOPE SELECT COMMODITIES INSIGHT AND TRANSPARENCY Do you need to see the energy, petrochemicals, metals, or agriculture markets in greater detail? Platts Market Data over Thomson Reuters DataScope Select provides independent price assessments, fundamentals, forward prices and a lot more for key contracts across these markets. You ll be able to make realistic valuations, manage risk more effectively and create robust trading strategies and spot opportunities. COMPREHENSIVE DATA FROM A SINGLE SOURCE Platts Market Data on Thomson Reuters enables you to follow the markets you are interested in more closely. Platts benchmark price assessments are widely used throughout the energy, petrochemicals, metals and agriculture supply chain. From producer to consumer, risk manager to analyst, 12,500+ daily prices and forward curves ensure financial institutions, energy, metals and mining companies, and governments are competitively pricing their energy transactions. This highly respected data is essential market intelligence for industry professionals who need unbiased benchmark price assessments for short and long-term action and analysis. Platts Market Data service has flexible packaging options as well as individual data categories that have pre-bundled symbols. With Platts Market Data, you get access to hundreds of categories of data, containing thousands of prices, enabling you to choose the commodity data category that is most useful to you. This service provides you with Platts end-of-day price assessments and corrections. Analyze trends and minimize risk using independent end-of-day prices. So you can see where the market is going, identify optimum trading opportunities and take advantage. WHAT S INCLUDED? Crude oil price assessments, postings, yields and netbacks Oil products postings and price assessments, including netbacks, feedstock and blendstocks Global derivatives forward prices for oil, electricity, natural gas and coal Shipping clean and dirty tankers and bunker assessments LPG international and US price assessments Coal US and international price assessments, export prices and indexes Electricity European, North American and Latin American assessments and spark spreads Emissions global carbon, sulfur & nitrous oxides assessments Natural Gas European and North American price assessments LNG feedstock Petrochemicals assessments for global aromatics, olefins, polymers, solvents and intermediates Thomson Reuters Pricing & Reference Data 37