Swedish Securities Dealers Association 8th October 2008

Best execution? Best check Chi-X! European Order Book Volumes Figures sourced from FESE, Chi-X Europe figures inserted for comparison 1,324,900,000 27,444Prague Stock Exchange 15 1,362,700,00097,830Budapest Stock Exchange 14 2,891,400,000580,162Warsaw Stock Exchange 13 2,988,500,000437,653 Athens Stock Exchange 12 3,691,800,000452,316 SWX Swiss Exchange 11 4,925,100,000412,871 Wiener Borse 10 15,912,200,000864,435 Oslo Bors 9 47,729,200,0003,179,678 OMX Nordic Exchange 8 51,012,500,0004,015,200 Borsa Italiana 7 54,098,900,0002,288,316 SWX Europe 6 67,189,600,0002,120,080 Spanish Exchanges (BME) 5 68,023,864,8737,319,096 Chi-X Europe 4 122,431,500,0006,623,281 Deutsche Borse 3 154,305,800,00012,751,289 London Stock Exchange 2 163,063,000,00012,466,223 Euronext 1 Order Book Turnover €Order Book TradesExchange / MTF Value of Equity trading, August 2008

Best execution? Best check Chi-X! Progress to date – Monthly trading trend analysis

Best execution? Best check Chi-X! Average Consideration per Day (EUR) Chi-X average per day, September 2008: EUR 4,765,386,727 Chi-X average per day, August 2008: EUR 3,236,737,537 An increase of EUR 1,528,649,190 or 47.23% ,976, ,003, ,808, ,913, ,547, ,324, ,495, ,431, ,229, ,758,658, ,848,500, ,769,226, ,522,784, ,199,725, ,236,737, ,765,386,727

Best execution? Best check Chi-X! FASTER CHEAPER SMARTER Check Standard FIX 4.2 Connectivity Low Latency High message capacity Lower trading fees Free market data Lower clearing fees No connection or membership charges Anonymous order driven market Pan European CCP Innovative pricing model Price Improvement Why has Chi-X succeeded where others have failed ? * Based on a 50/50 aggressive/passive ratio

Best execution? Best check Chi-X! Connectivity Options Client 500 microseconds Chi-X Equinix Suite Co-lo ms Network Service Provider Leased line +/ ms Equinix Service Provision Connectivity Layer Order entry Quotes +/- 3ms Round trip latency in all cases

Best execution? Best check Chi-X! Trading Tariff Trading fees on Chi-X Aggressive execution fee 0.30bps Passive execution rebate 0.20bps Order entry, amendments & deletions no charge Membership & application no charge Market data FREE OTC trade reporting (optional) £210 pcm Aggressive execution Order hits Chi-X order book and immediately results in execution Passive execution Order is placed on Chi-X order book and executed as a result of being hit by an incoming order The Chi-X business model is based on the principle that the user pays only for services consumed

Best execution? Best check Chi-X! EMCF Clearing Fees EMCF has introduced further fee cuts with effect from 1st August 2008 All clearing fees are stated in Euros MarketInitial fees 1 October March May July August 2008 Overall difference Netherlands % Germany bp bp % UK % Francen/a % Switzerlandn/a % Scandinavian/a % Internal / Self0.03

Best execution? Best check Chi-X! European Roadmap Switzerland 23 rd November 2007 Sweden 14 th March 2008 Netherlands 30 th March 2007 Finland 4 th April 2008 UK 29 th June 2007 France 28 th September 2007 Germany 30 th March 2007 Live Markets & Future Launch Dates To Be Announced Italy 13th October 2008 Spain Norway20 th June 2008 Belgium4 th July 2008 Portugal Austria 8 th August 2008 Denmark20 th June 2008 Ireland

Best execution? Best check Chi-X! Basis Points Savings on Chi-X Month % of trade better than the spread Price Improvement (BPS) Sep %3.19 Aug %2.61 July %2.66 June %2.37 May %2.00 Apr %1.95 Mar %2.76 Feb %2.66 Jan %2.89

Best execution? Best check Chi-X! Nordic Basis Points Savings on Chi-X MonthFinlandSwedenNorwayDenmark August July June May n/a Apr n/a Mar n/a Price Improvement (bps) per market

Best execution? Best check Chi-X! Where to find the best market This is the exchange identifier The volume distribution is displayed here Executed trades are displayed here Choose the venues that you want to monitor here Edit the default settings here You must have access to real-time data Bloomberg has developed a consolidated Market Depth Monitor (MDM) that displays the consolidated level 2 data from each market. It will help you achieve a better result for your client EQUITY MDM e.g. RBS EU

Best execution? Best check Chi-X! Fast Track: How to get connected to Chi-X 3 Streams: Legal & Compliance Complete application documents that can be found on our web site (Get Connected/Document Library) Contact: Technical Connectivity This stage is to ensure that your firm can physically connect to Chi-X via FIX 4.2 and conforms with the Chi-X technical specification. A full Chi-X test platform is available Contact: Clearing & Settlement You will require your General Clearing Member to be connected to EMCF CCP. For detailed information please contact the Chi-X Director of Clearing & Settlement, who will assist you in this process

Best execution? Best check Chi-X! ©2008 Chi-X Europe Ltd (“Chi-X”). All rights reserved. Chi-X is a registered mark. Chi-X Europe Limited is authorised and regulated by the Financial Services Authority. Chi-X Europe Limited is a majority owned subsidiary of Instinet Incorporated. This information is provided for informational purposes only. It does not take into account the particular investment objectives, financial situation, or needs of any individual or entity. Under no circumstances is it to be used or considered as an offer to purchase or sell any security, or as a solicitation or recommendation of the purchase, sale, or offer to purchase or sell any security. While the information has been obtained from sources deemed reliable, neither Chi-X nor its licensors, nor any other party through whom the user obtains any such information: (i) makes any guarantees that it is accurate, complete, timely, or contains correct sequencing of information; (ii) makes any warranties with regard to the results obtained from its use; or (iii) shall have any liability for any claims, losses, or damages arising from or occasioned by any inaccuracy, error, delay, or omission, or from the use of the information or actions taken in reliance on the information. Reproduction or redistribution of this information is prohibited except with written permission from Chi-X. System response times may vary for a number of reasons including market conditions, trading volumes and system performance.