Exchanges Index Monthly Analysis

September 2017 Including Quarterly Analysis FTSE Mondo Visione Exchanges Index Monthly Analysis

The FTSE Mondo Visione Exchanges Index is a comprehensive measure of all publicly traded stock exchanges and trading floors: Australian Securities Exchange Ltd B3 SA Bolsa Mexicana de Valores SA Bolsa y Mercado Espanoles BSE Bulgarian Stock Exchange - Sofia Bursa de Valori Bucuresti SA Bursa Malaysia CBOE Holdings CME Group Deutsche Bourse Dubai Financial Market Euronext Hellenic Exchanges SA Hong Kong Exchanges and Clearing Ltd IntercontinentalExchange Japan Exchange Group Johannesburg Stock Exchange Ltd London Stock Exchange Group Moscow Exchange Multi Commodity Exchange of India Nairobi Securities Exchange Nasdaq New Zealand Exchange Ltd Philippine Stock Exchange Singapore Exchange Ltd TMX Group Warsaw Stock Exchange

INDEX VALUE Index Value 29/09/2017 45232.14 31/08/2017 43664.31 Closing all-time high - 6 December 2007 48486.38 PERFORMANCE Capital Return YTD (USD%) 22.9 1M (USD%) 3.6 12M (USD%) 23.6

CONSTITUENT MARKET CAPITALISATION AND CAPITAL RETURN RANKED BY 1 MONTH PERFORMANCE (USD TERMS) Constituent Name Country Net Market Cap 1M Performance YTD 12M (USDm) (%) Performance (%) Performance (%) Moscow Exchange Russia 2,836 10.6-2.5-0.1 CME Group USA 45,878 7.9 17.6 29.8 B3 SA Brazil 14,881 7.7 49.4 46.3 CBOE Holdings USA 11,833 6.7 45.7 66 TMX Group Limited Canada 3,075 6.5 5.7 23 Intercontinental Exchange USA 40,077 6.2 21.8 27.5 Euronext France 4,256 6.1 47.2 42.6 Japan Exchange Group Japan 9,505 3.9 23.5 14.4 Nasdaq USA 8,810 2.9 15.6 14.9 Philippine Stock Exchange Philippines 347 1.6-1.5-14.8 Deutsche Boerse Germany 20,253 1.6 32.6 33.7 London Stock Exchange GroUnited Kingdom 16,053 1 42.7 41.3 NZX Ltd New Zealand 229 0.1 16.5 10.7 Bursa Malaysia Malaysia 814-0.5 21.8 12.6 Hong Kong Exchanges & ClHong Kong 32,917-1.5 13.8 2.3 Singapore Exchange Singapore 4,465-1.5 9.8 0.1 BSE India 161-1.8 - - Dubai Financial Market United Arab Emirates 488-1.8-11.2-15.3 Multi Commodity Exchange India 276-3.3-14.8-21.6 Bolsa Mexicana de Valores Mexico 736-3.3 26.6 5.1 Bolsas y Mercados EspanolSpain 2,633-4.1 16.9 16.2 Hellenic Exchanges SA Greece 321-5 16.8 30.7 ASX Australia 7,959-5.1 14.2 11.6 S.C. Bursa de Valori BucureRomania 62-5.5 19.2 17.3 Bulgarian Stock Exchange Bulgaria 10-6.4 89 115.8 Warsaw Stock Exchange Poland 329-7.2 28 25.4 Nairobi Securities ExchangeKenya 46-9.8 27.4 16.3 JSE South Africa 780-11.5-23.6-21.2

CONSTITUENT CAPITAL RETURNS RANKED BY 1 MONTH PERFORMANCE (LOCAL CURRENCY TERMS) Constituent Name Country Currency 1M Performance (%) YTD Performance (%) 12M Performance (%) Moscow Exchange Russia RUB 9.6-8 -8.8 B3 SA Brazil BRL 8.3 45.2 42.5 CME Group USA USD 7.9 17.6 29.8 CBOE Holdings USA USD 6.7 45.7 66 Euronext France EUR 6.7 31.3 35.6 Japan Exchange Group Japan JPY 6.3 19.2 27.2 Intercontinental Exchange USA USD 6.2 21.8 27.5 TMX Group Limited Canada CAD 6.2-1.4 17 Nasdaq USA USD 2.9 15.6 14.9 Deutsche Boerse Germany EUR 2.1 18.3 27.1 Philippine Stock Exchange Philippines PHP 0.8 0.7-10.7 BSE India INR 0.3 - - NZX Ltd New Zealand NZD -0.8 12.4 11.3 Multi Commodity Exchange o India INR -1.2-18 -23.1 Bolsa Mexicana de Valores S Mexico MXN -1.5 11.6-1.4 Singapore Exchange Singapore SGD -1.5 3.2-0.3 Bursa Malaysia Malaysia MYR -1.6 14.6 15 Hong Kong Exchanges & Cle Hong Kong HKD -1.7 14.6 3 Dubai Financial Market United Arab Emirates AED -1.8-11.2-15.3 London Stock Exchange GrouUnited Kingdom PNC -3 31.4 36.8 Bolsas y Mercados EspanolesSpain EUR -3.5 4.3 10.4 ASX Australia AUD -4.1 5.4 8.9 Hellenic Exchanges SA Greece EUR -4.5 4.2 24.3 S.C. Bursa de Valori Bucures Romania RON -4.9 7.6 15.1 Warsaw Stock Exchange Poland PLN -5.3 11.7 19.4 Bulgarian Stock Exchange Bulgaria BGN -5.9 68.6 105.1 JSE South Africa ZAR -8.1-24.6-22.6 Nairobi Securities Exchange Kenya KES -9.4 28.3 18.6

FTSE MONDO VISIONE EXCHANGES INDEX AND CONSTITUENT PERFORMANCE TABLE (USD CAPITAL RETURN) 1M (%) 3M (%) 6M (%) YTD (%) 12M (%) 3YR (%) 5YR (%) Since 17 August 2001 (%) FTSE/MV Exchanges Index 3.6 6.8 15.4 22.9 23.6 52.2 110.4 804.6 ASX -5.1 0.0 6.8 14.2 11.6 31.1 35.9 512.5 B3 SA 7.7 27.0 24.6 49.4 46.3 65.7 25.4 - Bolsa Mexicana de Valores SAB de CV -3.3-4.3 1.8 26.6 5.1-21.9-18.7 - Bolsas y Mercados Espanoles -4.1-4.3 3.8 16.9 16.2-9.5 67.2 - BSE -1.8-10.0-0.7 - - - - - Bulgarian Stock Exchange -6.4 67.3 78.3 89.0 115.8 33.2 - - Bursa Malaysia -0.5-2.7 8.7 21.8 12.6-2.2 25.4 - CBOE Holdings 6.7 17.8 32.8 45.7 66.0 101.1 278.8 - CME Group 7.9 8.3 14.2 17.6 29.8 69.7 150.6 - Deutsche Boerse 1.6 2.9 18.0 32.6 33.7 60.9 95.7 504.7 Dubai Financial Market -1.8 0.0-11.2-11.2-15.3-67.0 14.6 - Euronext 6.1 17.4 39.1 47.2 42.6 149.0 - - Hellenic Exchanges SA -5.0-7.0 21.9 16.8 30.7-14.7 48.7 22.1 Hong Kong Exchanges & Clearing -1.5 4.0 6.8 13.8 2.3 24.9 77.9 1813.6 Intercontinental Exchange 6.2 4.2 14.7 21.8 27.5 76.1 157.5 - Japan Exchange Group 3.9-2.3 24.3 23.5 14.4 49.1 305.3 - JSE -11.5-1.9-4.6-23.6-21.2 6.6 11.8 - London Stock Exchange Group 1.0 8.5 29.6 42.7 41.3 69.7 266.3 950.4 Moscow Exchange 10.6 14.0 1.4-2.5-0.1 36.9 - - Multi Commodity Exchange of India -3.3-5.5-14.3-14.8-21.6 22.9-34.5 - Nairobi Securities Exchange -9.8 13.1 42.0 27.4 16.3-7.7 - - Nasdaq 2.9 8.5 11.7 15.6 14.9 82.9 233.0 - NZX Ltd 0.1 4.0 13.0 16.5 10.7-13.1-9.1 - Philippine Stock Exchange 1.6-2.1-0.9-1.5-14.8-26.6-36.3 - S.C. Bursa de Valori Bucuresti S.A. -5.5-2.0 12.0 19.2 17.3-7.5 20.9 - Singapore Exchange -1.5 2.1-1.2 9.8 0.1-4 -4.6 1026.7 TMX Group Limited 6.5 3.8 11.5 5.7 23 15 10.3 Warsaw Stock Exchange -7.2-7 9.2 28 25.4 7.1 7.1

CONSTITUENT MARKET CAPITALISATION AND CAPITAL RETURN RANKED BY 1 MONTH PERFORMANCE (USD TERMS) Constituent Name Country Net Market Cap (USDm) 1M Performan ce (%) YTD Performa nce (%) 12M Performa nce (%) Moscow Exchange Russia 2,836 10.6-2.5-0.1 CME Group USA 45,878 7.9 17.6 29.8 B3 SA Brazil 14,881 7.7 49.4 46.3 CBOE Holdings USA 11,833 6.7 45.7 66.0 TMX Group Limited Canada 3,075 6.5 5.7 23.0 Intercontinental Exchange USA 40,077 6.2 21.8 27.5 Euronext France 4,256 6.1 47.2 42.6 Japan Exchange Group Japan 9,505 3.9 23.5 14.4 Nasdaq USA 8,810 2.9 15.6 14.9 Philippine Stock Exchange Philippines 347 1.6-1.5-14.8 Deutsche Boerse Germany 20,253 1.6 32.6 33.7 London Stock Exchange Group United Kingdom 16,053 1.0 42.7 41.3 NZX Ltd New Zealand 229 0.1 16.5 10.7 Bursa Malaysia Malaysia 814-0.5 21.8 12.6 Hong Kong Exchanges & Clearing Hong Kong 32,917-1.5 13.8 2.3 Singapore Exchange Singapore 4,465-1.5 9.8 0.1 BSE India 161-1.8 - - Dubai Financial Market United Arab Emira 488-1.8-11.2-15.3 Multi Commodity Exchange of India India 276-3.3-14.8-21.6 Bolsa Mexicana de Valores SAB de CV Mexico 736-3.3 26.6 5.1 Bolsas y Mercados Espanoles Spain 2,633-4.1 16.9 16.2 Hellenic Exchanges SA Greece 321-5.0 16.8 30.7 ASX Australia 7,959-5.1 14.2 11.6 S.C. Bursa de Valori Bucuresti S.A. Romania 62-5.5 19.2 17.3 Bulgarian Stock Exchange Bulgaria 10-6.4 89.0 115.8 Warsaw Stock Exchange Poland 329-7.2 28 25.4 Nairobi Securities Exchange Kenya 46-9.8 27.4 16.3 JSE South Africa 780-11.5-23.6-21.2

1 YEAR PERFORMANCE CHART OF THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN) 46,000 44,000 31 Jan 2017: New York Stock Exchange, part of Intercontinental Exchange, completes the acquisition of National Stock Exchange, Inc 03 Apr 2017: Euronext and Intercontinental Exchange sign agreement for derivatives clearing 14 Aug 2017: Euronext completes acquisition of about 90% of the FastMatch ECN 42,000 40,000 Index Value 38,000 36,000 34,000 32,000 20 Dec 2016: Euronext announces exclusive talks with London Stock Exchange Group plc on potential acquisition of LCH Clearnet SA 14 Nov 2016: NASDAQ names Adena Friedman President and Chief Executive Officer, who also joins the Board of Directors, effective 1 January, 2017 10 Oct 2016: Hong Kong Exchanges and Clearing Limited (HKEX) subsidiaries, Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Securities Clearing Company Limited (HKSCC), sign an agreement with Shenzhen Stock Exchange (SZSE) and China Securities Depository and Clearing Corporation Limited (ChinaClear) to establish Shenzhen-Hong Kong Stock Connect 29 Mar 2017: European Commission blocks London Stock Exchange Group plc merger with Deutsche Boerse AG 27 Feb 2017: European Commission seeks proposal for London Stock Exchange Group plc divestment of majority stake in MTS in relation to "merger of equals" with Deutsche Boerse AG 23 May 2017: Euronext to buy 90% of FastMatch, the fastestgrowing ECN in the spot FX market 25 May 2017: B3, Bradesco and Itaú Unibanco invest in Fintech company, R3 to accelerate DLT development 30 Mar 2017: BM&FBOVESPA and CETIP combine to form B3 as a financial market infrastructure company 03 Jul 2017: China Foreign Exchange Trade System and Hong Kong Exchanges and Clearing Limited launch Bond Connect 13 Jun 2017: Brazil's CVM approves BM&FBOVESPA S.A. name change to B3 S.A. Brasil, Bolsa, Balcão and merger with Cetip 13 2017: Deutsche Boerse AG paves the way to closure of investigation FTSE International Limit

1 Year Performance (USD Capital Return) Constituents 1 Year Performance Constituents 1 Year Excess Capital Returns ASX 11.6 ASX -12.0 B3 SA 46.3 B3 SA 22.7 Bolsa Mexicana de Valores SAB de CV 5.1 Bolsa Mexicana de Valores SAB de CV -18.5 Bolsas y Mercados Espanoles 16.2 Bolsas y Mercados Espanoles -7.4 BSE - BSE - Bulgarian Stock Exchange 115.8 Bulgarian Stock Exchange 92.2 Bursa Malaysia 12.6 Bursa Malaysia -11.0 CBOE Holdings 66.0 CBOE Holdings 42.4 CME Group 29.8 CME Group 6.2 Deutsche Boerse 33.7 Deutsche Boerse 10.1 Dubai Financial Market -15.3 Dubai Financial Market -38.9 Euronext 42.6 Euronext 19.0 Hellenic Exchanges SA 30.7 Hellenic Exchanges SA 7.1 Hong Kong Exchanges & Clearing 2.3 Hong Kong Exchanges & Clearing -21.3 Intercontinental Exchange 27.5 Intercontinental Exchange 3.9 Japan Exchange Group 14.4 Japan Exchange Group -9.2 JSE -21.2 JSE -44.8 London Stock Exchange Group 41.3 London Stock Exchange Group 17.7 Moscow Exchange -0.1 Moscow Exchange -23.7 Multi Commodity Exchange of India -21.6 Multi Commodity Exchange of India -45.2 Nairobi Securities Exchange 16.3 Nairobi Securities Exchange -7.3 Nasdaq 14.9 Nasdaq -8.7 NZX Ltd 10.7 NZX Ltd -12.9 Philippine Stock Exchange -14.8 Philippine Stock Exchange -38.4 S.C. Bursa de Valori Bucuresti S.A. 17.3 S.C. Bursa de Valori Bucuresti S.A. -6.3 Singapore Exchange 0.1 Singapore Exchange -23.5 TMX Group Limited 23.0 TMX Group Limited -0.6 Warsaw Stock Exchange 25.4 Warsaw Stock Exchange 1.8

PERFORMANCE OF QUARTER AGAINST PREVIOUS QUARTER (USD CAPITAL RETURN) Q3 2017 Q2 2017 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 6.8 8.0 ASX 0.0 6.8 B3 SA 27.0-1.9 Bolsa Mexicana de Valores SAB de CV -4.3 6.4 Bolsas y Mercados Espanoles -4.3 8.4 BSE -10.0 10.3 Bulgarian Stock Exchange 67.3 6.6 Bursa Malaysia -2.7 11.7 CBOE Holdings 17.8 12.7 CME Group 8.3 5.4 Deutsche Boerse 2.9 14.7 Dubai Financial Market 0.0-11.2 Euronext 17.4 18.5 Hellenic Exchanges SA -7.0 31.1 Hong Kong Exchanges & Clearing 4.0 2.7 Intercontinental Exchange 4.2 10.1 Japan Exchange Group -2.3 27.3 JSE -1.9-2.7 London Stock Exchange Group 8.5 19.4 Moscow Exchange 14.0-11.1 Multi Commodity Exchange of India -5.5-9.3 Nairobi Securities Exchange 13.1 25.6 Nasdaq 8.5 2.9 NZX Ltd 4.0 8.6 Philippine Stock Exchange -2.1 1.3 S.C. Bursa de Valori Bucuresti S.A. -2.0 14.2 Singapore Exchange 2.1-3.3 TMX Group Limited 3.8 7.5 Warsaw Stock Exchange -7 17.5

PERFORMANCE OF QUARTER AGAINST QUARTER FOR PREVIOUS YEAR (USD CAPITAL RETURN) Q3 2017 Q3 2016 Constituent Name Performance Performance (%) (%) FTSE/MV Exchanges Index 6.8 6.0 ASX 0.0 8.2 B3 SA 27.0-7.9 Bolsa Mexicana de Valores SAB de CV -4.3 4.9 Bolsas y Mercados Espanoles -4.3 6.8 BSE -10.0 - Bulgarian Stock Exchange 67.3 11.3 Bursa Malaysia -2.7 0.4 CBOE Holdings 17.8-2.7 CME Group 8.3 Deutsche Boerse 2.9-0.8 Dubai Financial Market 0.0 4.0 Euronext 17.4 15.9 Hellenic Exchanges SA -7.0 2.7 Hong Kong Exchanges & Clearing 4.0 8.7 Intercontinental Exchange 4.2 5.2 Japan Exchange Group -2.3 35.7 JSE -1.9-7.9 London Stock Exchange Group 8.5 7.5 Moscow Exchange 14.0 14.0 Multi Commodity Exchange of India -5.5 36.9 Nairobi Securities Exchange 13.1-20.7 Nasdaq 8.5 4.4 NZX Ltd 4.0 8.2 Philippine Stock Exchange -2.1-1.2 S.C. Bursa de Valori Bucuresti S.A. -2.0 17.0 Singapore Exchange 2.1-4 TMX Group Limited 3.8 10.8 Warsaw Stock Exchange -7 17.1

FTSE MONDO VISIONE EXCHANGES INDEX AND THE FTSE ALL-WORLD INDEX PERFORMANCE SINCE 17 AUGUST 2001 (USD CAPITAL RETURN) 50000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 Aug-01 Dec-01 Apr-02 Aug-02 Dec-02 Apr-03 Aug-03 Dec-03 Apr-04 Aug-04 Dec-04 Apr-05 Aug-05 Dec-05 Apr-06 Aug-06 Dec-06 Apr-07 Aug-07 Dec-07 Apr-08 Aug-08 Dec-08 Apr-09 Aug-09 Dec-09 Apr-10 Aug-10 Dec-10 Apr-11 Aug-11 Dec-11 Apr-12 Aug-12 Dec-12 Apr-13 Aug-13 Dec-13 Apr-14 Aug-14 Dec-14 Apr-15 Aug-15 Dec-15 Apr-16 Aug-16 Dec-16 Apr-17 Aug-17 FTSE Mondo Visione Exchanges Index FTSE All-World Index* * FTSE All-World Index rebased to 5000 on 17 August 2001

1 YEAR CONSTITUENT PERFORMANCE (USD CAPITAL RETURN) 140% 120% 115.8 100% 80% 66.0 60% 40% 20% 0% -20% -40% 11.6 46.3 5.1 16.2 n/a 12.6 29.8 33.7-15.3 42.6 30.7 2.3 27.5 14.4-21.2 41.3-0.1-21.6 16.3 14.9 10.7-14.8 17.3 0.1 23.0 25.4 ASX B3 SA Bolsa Mexicana de Valores SAB de CV Bolsas y Mercados Espanoles BSE Bulgarian Stock Exchange Bursa Malaysia CBOE Holdings CME Group Deutsche Boerse Dubai Financial Market Euronext Hellenic Exchanges SA Hong Kong Exchanges & Clearing Intercontinental Exchange Japan Exchange Group JSE London Stock Exchange Group Moscow Exchange Multi Commodity Exchange of India Nairobi Securities Exchange Nasdaq NZX Ltd Philippine Stock Exchange S.C. Bursa de Valori Bucuresti S.A. Singapore Exchange TMX Group Limited Warsaw Stock Exchange Source: FTSE Group and Thomson Datastream, data as at 29 September 2017

1 YEAR EXCESS CAPITAL RETURNS AGAINST THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN) 100% 92.2 80% 60% 40% 20% 0% -20% -40% -60% -12.0 22.7-18.5-7.4 n/a -11.0 42.4 6.2 10.1-38.9 19.0 7.1-21.3 3.9-9.2-44.8 17.7-23.7-45.2-7.3-8.7-12.9-38.4-6.3-23.5-0.6 1.8 ASX B3 SA Bolsa Mexicana de Valores SAB de CV Bolsas y Mercados Espanoles BSE Bulgarian Stock Exchange Bursa Malaysia CBOE Holdings CME Group Deutsche Boerse Dubai Financial Market Euronext Hellenic Exchanges SA Hong Kong Exchanges & Clearing Intercontinental Exchange Japan Exchange Group JSE London Stock Exchange Group Moscow Exchange Multi Commodity Exchange of India Nairobi Securities Exchange Nasdaq NZX Ltd Philippine Stock Exchange S.C. Bursa de Valori Bucuresti S.A. Singapore Exchange TMX Group Limited Warsaw Stock Exchange Source: FTSE Group and Thomson Datastream, data as at 29 September 2017

( FTSE ) 2017. All rights reserved. FTSE International Limited ( FTSE ) FTSE [year]. FTSE is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in and to the FTSE Mondo Visione Exchanges Index vest in FTSE. All information is provided for information purposes only. No responsibility or liability is accepted by FTSE for any errors, loss or liability arising from the use of this publication. Distribution of FTSE index values and the use of the FTSE indices to create financial products require a licence from FTSE.