MF GLOBAL UK LIMITED (IN SPECIAL ADMINISTRATION) TRADE CONFIRMATION (CLAIMS) Date: [ ]

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1 MF GLOBAL UK LIMITED (IN SPECIAL ADMINISTRATION) TRADE CONFIRMATION (CLAIMS) To: [ ] Date: [ ] Attention: [ ] We are pleased to confirm the following transaction, subject to the Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank Debt/Claims) of the Loan Market Association ( LMA ) (the Terms and Conditions ) as in effect on the Trade Date, which are incorporated in this Confirmation. Please note that as the underlying claim relates to a Claim, the Terms and Conditions should be read as the context demands. 1. Credit Agreement Details 1 : Borrower: MF Global UK Limited (in special administration) Claim Details: [ ] Total Claim Amount ( ): [ ] 2 Additional Information: Richard Heis, Michael Robert Pink and Richard Dixon Fleming were appointed as joint special administrators of the Borrower by order of the High Court in accordance with The Investment Bank Special Administration Regulations 2011 on 31 October 2011 (the Special Administrators ). The affairs, business and property of the Borrower are being managed by the Special Administrators who contract as agents of the Borrower without personal liability. The Borrower is authorised and regulated by the Financial Services Authority. FSA reference number Registered in England No Registered Office: 5 Churchill Place, Canary Wharf, London, E14 5HU. VAT No Trade Date: [ ] 3. Settlement Date: as soon as reasonably practicable [(being the date falling [two/three] Business Days after receipt by the Buyer of the Claims Transfer Acknowledgement from the Special Administrators)] 4. Seller: [ ] As principal 5. Buyer: [ ] As principal 6. Details of Traded Portion: 7. Pricing: Traded Portion of Claim Amount: [ ] 1 Please insert details of your claim here in item 1. Note that the term Credit Agreement may not accurately describe the claim you have against MF Global UK Limited, however the term Credit Agreement is defined in the LMA s Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank Debt/Claims) (the LMA Standard T&C s ) applicable to this Confirmation. Credit Agreement is defined as the credit agreement to which the transaction relates as set out in the applicable Confirmation. Therefore, in order to properly give effect to those terms, the Special Administrators suggest that you do not change the heading of this section. If you determine that you would like to amend this definition, please make sure you agree to include a corresponding amendment to the LMA Standard T&C s by incorporating a term to that effect in Schedule 1. (Please also see item 12 below.) 2 Please note that the term Borrower may not be an accurate description of MF Global UK Limited in the context of your claim against the company, however the term Borrower is incorporated into the LMA Standard T&C s to which this Assignment relates. Therefore, in order to properly give effect to those terms, the Special Administrators suggest that MF Global UK Limited be referred to as Borrower in this Assignment.

2 Purchase Rate: [ ]% 8. Form of Purchase: Assignment agreement based on LMA standard form of Assignment Agreement (Distressed/ Claims) and incorporating the Transfer Notice in the form prescribed by the Special Administrators for the transfer of Claims. Legal Transfer Only 3 9. Transaction Documentation: To be prepared by: Buyer Seller 10. Credit Documentation 4 to be provided by Seller: Yes No 11. Process Agents: Buyer: Yes No Seller: Yes No 12. [Other Terms of Trade]: The Buyer and Seller hereby agree that for the purposes of this transaction, the Terms and Conditions shall be amended in accordance with the provisions set out in Schedule 1 hereto. Delayed Settlement Compensation does not apply to this transaction Recordation and Transfer fee (including any fee payable to the Special Administrators) payable by Buyer Seller Other (specify): [ This transaction and the payment of the Settlement Amount is subject to the condition that the Claim is registered in the name of the Buyer by the Special Administrators. The Buyer has the right, but not the obligation, to terminate this transaction on notice to the Seller should the Special Administrators reject the transfer of the Claim for any reason.] The Seller represents and warrants to the Buyer, as of the Trade Date and the Settlement Date that: (i) the Claim on account of the Traded Portion has been duly and timely filed in the Insolvency Proceedings of the Borrower, (ii) [the Claim is and shall be treated as a [client money,] [client assets,] [general unsecured claim] in the Insolvency Proceedings of the Borrower in an amount no less than the Traded Portion] 5, (iii) the copies of the proofs of debt 3 Please note that if the Seller is an individual or a small company, it may wish to settle by Legal Transfer Only 4 Please insert details of the documentation underlying the Seller s claim here in item 12. Note that the term Credit Documentation may not accurately describe the documentation underlying the claim you have against MF Global UK Limited, however the term Credit Documentation is defined in the LMA Standard T&C s applicable to this Confirmation. Therefore, in order to properly give effect to those terms, the Special Administrators suggest that you do not change the heading of this section. If you determine that you would like to amend this definition, please make sure you agree to include a corresponding amendment to the LMA Standard T&C s by incorporating a term to that effect in Schedule 1. (Please also see item 1 above.) 5 Please note that in certain cases as of the Trade Date and/or the Settlement Date, the Special Administrators may not have agreed or accepted the validity, value or classification of the Seller s claim for distribution purposes in whole or in part and the Special Administrators reserve their rights to further review the Seller s claim as part of the 2

3 provided pursuant to conditions 9.1 or 9.3 of the Terms and Conditions are true, correct and complete, (iv) it has not filed any other claim against any affiliate of the Borrower in relation to the Purchased Assets, and (v) it has not filed a claim with the Financial Services Compensation Scheme and it has not made any prior assignment, transfer or subparticipation (including but not limited to the Financial Services Compensation Scheme) that is subsisting. The Seller undertakes to the Buyer from the Trade Date that it will not file a claim with the Financial Services Compensation Scheme and will not amend, compromise, settle or vary the Claim without the prior written consent of the Buyer. The Seller agrees promptly to forward to the Buyer all notices received from the Borrower, the Special Administrators or any third party with respect to the Claim and to take such further action with respect to the Claim in the Insolvency Proceedings of the Borrower as the Buyer may request from time to time. The Claim is held by the Seller for and on its own account and not as fiduciary or through or by an intermediary, custodian or other similar agent. [ The Seller shall exercise any voting rights or discretions in accordance with the written directions of Buyer in relation to the Purchased Assets from the Trade Date.] The Seller undertakes to the Buyer to use all reasonable endeavours to procure that any necessary third party shall promptly execute and deliver such documents and perform such acts as may be reasonably required for the purpose of giving full effect to the transaction, including, but not limited to, having the Purchased Assets transferred into the name of the Buyer. The Buyer and the Seller agree that the Buyer may disclose the executed Assignment Agreement (other than the Purchase Rate or other pricing arrangements) to any future assignees of all or part of the Traded Portion in order for any such future assignees to register such assignment with the Special Administrators and Condition 24 of the Terms and Conditions shall be modified accordingly. [ In the event the Seller, or any third party on behalf of Seller, receives any payment or other distribution (a Distribution ) in full or partial satisfaction of, or in connection with, the Claim that is attributable to the Traded Portion of the Claim, the Seller undertakes to hold such Distribution on trust for the Buyer until payment of the Settlement Amount by the Buyer and the amount of such Distribution shall be deducted from the Settlement Amount payable by the Buyer to the Seller on the Settlement Date.] The Seller further represents and warrants to the Buyer, as of the Trade Date and the Settlement Date, that no payment or distribution has been received by the Seller or its Predecessors-in-Title in relation to the Traded Portion of the Claim The Seller further represents and warrants to the Buyer, as of the Trade Date and the Settlement Date, that it has understood the terms of the Assignment, the Agreed Terms and this Confirmation and/or has sought and obtained appropriate legal advice with respect thereof. The Buyer and Seller undertakes to each other that it will not object to the assignment or take any action or make any omission after the service of the claim transfer request form that may result in the rejection of the assignment by the Special Administrators, cause delay or refusal of the Acknowledgement of Transfer by the Special Administrators, or that may result in the assignment hereunder being made void. Please sign and return this letter to the attention of the contact person mentioned below no later than the close of business on [ ] at the fax number or electronic mail address mentioned below. Please note that, in accordance with the Terms and Conditions, any disagreement with the terms set out above must be notified to us no later than this time. If you have any questions, please contact [Seller contact]. detailed reconciliation exercise that the Special Administrators are currently undertaking in respect of each claimant's claim for distribution purposes 3

4 SELLER Contact Person: Fax No.: Phone No.: By: Name: Title: Date: [BUYER] Contact Person: Fax No.: Phone No.: By: Name: Title: Date: 4

5 SCHEDULE 1 AMENDMENTS TO THE TERMS AND CONDITIONS The Buyer and Seller hereby agree that for the purposes of this Transaction, the Terms and Conditions shall be amended as follows: The definitions of terms Insolvency Officer and Insolvency Proceedings shall be amended to include reference to The Investment Bank Special Administration Regulations 2011; Condition 27 (Further Assurance) of the Terms and Conditions shall be amended by the addition of the following additional provision at the end of the existing Condition: This includes (upon reasonable notice) the Seller assisting the Buyer by providing documents in its possession or executing any additional document or instrument requested by the Insolvency Officer or Special Administrators appointed in respect of the Borrower in order to effectively transfer the Traded Portion of Claim Amount to the Buyer. The Seller further agrees to provide commercially reasonable assistance as the Buyer may reasonably request in order to procure the admittance of the Traded Portion(s) in the estate of the Issuer/Borrower. The Buyer and the Seller agree that the Buyer may disclose the executed Assignment Agreement (other than the Purchase Rate or other pricing arrangements) to any future assignees of all or part of the Traded Portion in order for any such future assignees to register such assignment with the Special Administrators and Condition 24 of the Terms and Conditions shall be modified accordingly. 5