September 2019 – 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:

ASX Intercontinental Exchange B3 SA Japan Exchange Group Bolsa Mexicana de Valores SA Johannesburg Stock Exchange Ltd Bolsa y Mercado Espanoles London Stock Exchange Group BSE Moscow Exchange Bulgarian Stock Exchange - Sofia Multi Commodity Exchange of India Bursa de Valori Bucuresti SA Nairobi Securities Exchange Bursa Malaysia Nasdaq Cboe Global Markets NZX Ltd CME Group Philippine Stock Exchange Deutsche Bourse Singapore Exchange Ltd Dubai Financial Market TMX Group Euronext Warsaw Stock Exchange Hellenic Exchanges SA Zagrebacka Burza dd

Hong Kong Exchanges and Clearing Ltd

INDEX VALUE

Index Value30/09/2019 60034.5830/08/2019 60528.99Closing all-time high - 6 September 2019 62355.5Source: FTSE Group, data as at 30 September 2019

PERFORMANCE

Capital ReturnYTD (USD%) 21.51M (USD%) -0.812M (USD%) 21.2Source: FTSE Group, data as at 30 September 2019

CONSTITUENT MARKET CAPITALISATION AND CAPITAL RETURN RANKED BY 1 MONTH PERFORMANCE (USD TERMS)

Constituent Name Country Net Market Cap (USDm)

1M Performance (%)

YTD Performance (%)

12M Performance (%)

S.C. Bursa de Valori Bucuresti S.A. Romania 50 12.4 20.3 -0.5BSE India 99 6.9 -7.1 -15.5London Stock Exchange Group United Kingdom 28,183 6.3 74.1 50.6Deutsche Boerse Germany 28,664 6.1 30.3 16.6Tel Aviv Stock Exchange Israel 98 5.2 - -Euronext France 5,000 4.1 42.3 24.3Bulgarian Stock Exchange Bulgaria 9 4 -9.1 -20.1Singapore Exchange Singapore 5,024 3.6 16.8 13.5Moscow Exchange Russia 2,079 2.8 26.1 -1.6Bolsa Mexicana de Valores SAB de CV Mexico 779 2.3 10.5 -8.1NZX Ltd New Zealand 222 1.8 19.4 10.9JSE South Africa 718 1.7 -24 -22.3Warsaw Stock Exchange Poland 269 1.2 2.7 -17Nasdaq USA 11,480 -0.5 21.8 15.8TMX Group Limited Canada 4,742 -0.5 66.8 28.8Dubai Financial Market United Arab Emirates 376 -0.6 7.4 -6.6Japan Exchange Group Japan 8,420 -0.8 -3 -9.8Multi Commodity Exchange of India India 166 -1 28.8 42.8Intercontinental Exchange USA 51,251 -1.3 22.5 23.2Nairobi Securities Exchange Kenya 25 -1.6 -27.8 -23.5Bursa Malaysia Malaysia 754 -2.4 -12 -22.9Bolsas y Mercados Espanoles Spain 1,923 -2.4 -9.1 -21.8Hellenic Exchanges SA Greece 280 -2.4 21.5 1.2CME Group USA 74,728 -2.7 12.3 24.2Philippine Stock Exchange Philippines 294 -3.3 1.2 -0.7B3 SA Brazil 20,693 -3.4 51.4 78.8Cboe Global Markets USA 12,692 -3.6 17.5 19.7Hong Kong Exchanges & Clearing Hong Kong 36,912 -4.2 1.4 2.5ASX Australia 10,578 -4.5 31.6 20.5Zagrebacka Burza dd Croatia 5 -15.6 - -Source: FTSE Group, data as at 30 September 2019

CONSTITUENT CAPITAL RETURNS RANKED BY 1 MONTH PERFORMANCE (LOCAL CURRENCY TERMS)

Constituent Name Country Currency 1M Performance (%)

YTD Performance (%)

12M Performance (%)

S.C. Bursa de Valori Bucuresti S.A. Romania RON 13.9 28.6 8Deutsche Boerse Germany EUR 7.2 36.6 24.3BSE India INR 6.1 -5.7 -17.4Euronext France EUR 5.2 49.2 32.5Bulgarian Stock Exchange Bulgaria BGN 5.1 -4.6 -14.9London Stock Exchange Group United Kingdom PNC 5.1 79.9 59.4Tel Aviv Stock Exchange Israel ILX 3.6 - -Singapore Exchange Singapore SGD 3.3 18.5 14.9NZX Ltd New Zealand NZD 2.4 27.7 17.3Warsaw Stock Exchange Poland PLN 2.2 9.5 -9.7JSE South Africa ZAR 1.6 -19.9 -16.7Japan Exchange Group Japan JPY 1 -4.5 -14.2Bolsa Mexicana de Valores SAB de CV Mexico MXN 0.7 10.8 -3Moscow Exchange Russia RUB 0.1 18 -2.5Nasdaq USA USD -0.5 21.8 15.8Dubai Financial Market United Arab Emirates AED -0.6 7.4 -6.6TMX Group Limited Canada CAD -0.8 61.7 31.9Intercontinental Exchange USA USD -1.3 22.5 23.2Bolsas y Mercados Espanoles Spain EUR -1.4 -4.7 -16.7Hellenic Exchanges SA Greece EUR -1.4 27.4 7.9Nairobi Securities Exchange Kenya KES -1.4 -26.4 -21.2Multi Commodity Exchange of India India INR -1.7 30.7 39.6B3 SA Brazil BRL -2.6 62.7 86.5CME Group USA USD -2.7 12.3 24.2Bursa Malaysia Malaysia MYR -2.9 -10.8 -22Cboe Global Markets USA USD -3.6 17.5 19.7Philippine Stock Exchange Philippines PHP -3.7 -0.2 -4.7Hong Kong Exchanges & Clearing Hong Kong HKD -4.2 1.5 2.7ASX Australia AUD -4.6 37.3 29.3Zagrebacka Burza dd Croatia HRK -14.6 - -Source: FTSE Group, data as at 30 September 2019

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 -0.8 5.1 16.4 21.5 21.2 64.0 102.1 1100.7ASX -4.5 -4.0 11.9 31.6 20.5 50.6 76.9 726.5B3 SA -3.4 7.2 26.9 51.4 78.8 102.4 129.3 -Bolsa Mexicana de Valores SAB de CV 2.3 -0.6 -9.2 10.5 -8.1 17.8 -12.4 -Bolsas y Mercados Espanoles -2.4 3.1 -9.7 -9.1 -21.8 -15.0 -33.7 -BSE 6.9 -10.4 -9.8 -7.1 -15.5 - - -Bulgarian Stock Exchange 4.0 -6.1 -9.9 -9.1 -20.1 111.7 30.7 -Bursa Malaysia -2.4 -14.0 -13.4 -12.0 -22.9 5.0 -8.8 -Cboe Global Markets -3.6 10.9 20.4 17.5 19.7 77.2 114.7 -CME Group -2.7 8.9 28.4 12.3 24.2 102.2 164.3 -Deutsche Boerse 6.1 10.4 21.8 30.3 16.6 92.8 132.1 772.0Dubai Financial Market -0.6 21.1 16.0 7.4 -6.6 -34.7 -74.6 -Euronext 4.1 8.0 29.0 42.3 24.3 91.7 234.7 -Hellenic Exchanges SA -2.4 -7.9 6.7 21.5 1.2 20.3 -21.5 12.4Hong Kong Exchanges & Clearing -4.2 -16.9 -15.8 1.4 2.5 11.7 36.3 1988.2Intercontinental Exchange -1.3 7.4 21.2 22.5 23.2 71.3 136.5 -Japan Exchange Group -0.8 -1.1 -11.8 -3.0 -9.8 1.7 32.5 -JSE 1.7 -13.0 -5.7 -24.0 -22.3 -24.8 1.6 -London Stock Exchange Group 6.3 29.0 45.5 74.1 50.6 147.6 197.4 1740.9Moscow Exchange 2.8 2.2 5.1 26.1 -1.6 -27.3 -0.4 -Multi Commodity Exchange of India -1.0 12.5 16.5 28.8 42.8 -33.2 4.7 -Nairobi Securities Exchange -1.6 -15.2 -24.4 -27.8 -23.5 -34.1 -47.7 -Nasdaq -0.5 3.3 13.6 21.8 15.8 47.1 134.2 -NZX Ltd 1.8 7.5 18.6 19.4 10.9 6.4 -16.5 -Philippine Stock Exchange -3.3 -6.6 -8.1 1.2 -0.7 -37.5 -46.2 -S.C. Bursa de Valori Bucuresti S.A. 12.4 15.6 20.6 20.3 -0.5 -9.3 -28.5 -Singapore Exchange 3.6 4.6 13.5 16.8 13.5 12.7 8 1168.1Tel Aviv Stock Exchange 5.2TMX Group Limited -0.5 23.9 34 66.8 28.8 88.4 76.2Warsaw Stock Exchange 1.2 -13 -1.6 2.7 -17 2.6 -12.4Zagrebacka Burza dd -15.6 -10.2 -12Source: FTSE Group, data as at 30 September 2019

PERFORMANCE OF QUARTER AGAINST PREVIOUS QUARTER (USD CAPITAL RETURN)

Constituent NameQ3 2019

Performance (%)

Q2 2019 Performance

(%)FTSE/MV Exchanges Index 5.1 10.7ASX -4.0 16.5B3 SA 7.2 18.4Bolsa Mexicana de Valores SAB de CV -0.6 -8.7Bolsas y Mercados Espanoles 3.1 -12.4BSE -10.4 0.7Bulgarian Stock Exchange -6.1 -4.1Bursa Malaysia -14.0 0.7Cboe Global Markets 10.9 8.6CME Group 8.9 17.9Deutsche Boerse 10.4 10.4Dubai Financial Market 21.1 -4.2Euronext 8.0 19.5Hellenic Exchanges SA -7.9 15.8Hong Kong Exchanges & Clearing -16.9 1.3Intercontinental Exchange 7.4 12.9Japan Exchange Group -1.1 -10.9JSE -13.0 8.4London Stock Exchange Group 29.0 12.8Moscow Exchange 2.2 2.8Multi Commodity Exchange of India 12.5 3.5Nairobi Securities Exchange -15.2 -10.8Nasdaq 3.3 9.9NZX Ltd 7.5 10.3Philippine Stock Exchange -6.6 -1.7S.C. Bursa de Valori Bucuresti S.A. 15.6 4.3Singapore Exchange 4.6 8.5Tel Aviv Stock ExchangeTMX Group Limited 23.9 8.2Warsaw Stock Exchange -13 13.2Zagrebacka Burza dd -10.2 -2Source: FTSE Group, data as at 30 September 2019

PERFORMANCE OF QUARTER AGAINST QUARTER FOR PREVIOUS YEAR (USD CAPITAL RETURN)

Constituent NameQ3 2019

Performance (%)

Q3 2018 Performance

(%)FTSE/MV Exchanges Index 5.1 0.1ASX -4.0 -3.2B3 SA 7.2 10.2Bolsa Mexicana de Valores SAB de CV -0.6 20.7Bolsas y Mercados Espanoles 3.1 -2.1BSE -10.4 -23.1Bulgarian Stock Exchange -6.1 2.0Bursa Malaysia -14.0 4.9Cboe Global Markets 10.9 -7.8CME Group 8.9 3.8Deutsche Boerse 10.4 0.6Dubai Financial Market 21.1 -5.2Euronext 8.0 3.5Hellenic Exchanges SA -7.9 -3.4Hong Kong Exchanges & Clearing -16.9 -4.8Intercontinental Exchange 7.4 1.8Japan Exchange Group -1.1 -6.2JSE -13.0 -4.9London Stock Exchange Group 29.0 1.3Moscow Exchange 2.2 -14.3Multi Commodity Exchange of India 12.5 -11.0Nairobi Securities Exchange -15.2 -23.0Nasdaq 3.3 -6.0NZX Ltd 7.5 -3.4Philippine Stock Exchange -6.6 -3.0S.C. Bursa de Valori Bucuresti S.A. 15.6 0.0Singapore Exchange 4.6 2.6Tel Aviv Stock ExchangeTMX Group Limited 23.9 2.4Warsaw Stock Exchange -13 23.4Zagrebacka Burza dd -10.2Source: FTSE Group, data as at 30 September 2019

Column Chart Data1 Year Performance (USD Capital Return)

Constituents 1 Year Performance Constituents 1 Year Excess Capital Returns

ASX 20.5 ASX -0.7B3 SA 78.8 B3 SA 57.6Bolsa Mexicana de Valores SAB de CV -8.1 Bolsa Mexicana de Valores SAB de CV -29.3Bolsas y Mercados Espanoles -21.8 Bolsas y Mercados Espanoles -43.0BSE -15.5 BSE -36.7Bulgarian Stock Exchange -20.1 Bulgarian Stock Exchange -41.3Bursa Malaysia -22.9 Bursa Malaysia -44.1Cboe Global Markets 19.7 Cboe Global Markets -1.5CME Group 24.2 CME Group 3.0Deutsche Boerse 16.6 Deutsche Boerse -4.6Dubai Financial Market -6.6 Dubai Financial Market -27.8Euronext 24.3 Euronext 3.1Hellenic Exchanges SA 1.2 Hellenic Exchanges SA -20.0Hong Kong Exchanges & Clearing 2.5 Hong Kong Exchanges & Clearing -18.7Intercontinental Exchange 23.2 Intercontinental Exchange 2.0Japan Exchange Group -9.8 Japan Exchange Group -31.0JSE -22.3 JSE -43.5London Stock Exchange Group 50.6 London Stock Exchange Group 29.4Moscow Exchange -1.6 Moscow Exchange -22.8Multi Commodity Exchange of India 42.8 Multi Commodity Exchange of India 21.6Nairobi Securities Exchange -23.5 Nairobi Securities Exchange -44.7Nasdaq 15.8 Nasdaq -5.4NZX Ltd 10.9 NZX Ltd -10.3Philippine Stock Exchange -0.7 Philippine Stock Exchange -21.9S.C. Bursa de Valori Bucuresti S.A. -0.5 S.C. Bursa de Valori Bucuresti S.A. -21.7Singapore Exchange 13.5 Singapore Exchange -7.7Tel Aviv Stock Exchange - Tel Aviv Stock Exchange -TMX Group Limited 28.8 TMX Group Limited 7.6Warsaw Stock Exchange -17.0 Warsaw Stock Exchange -38.2Zagrebacka Burza dd - Zagrebacka Burza dd -Source: FTSE Group, data as at 30 September 2019

1-YEAR PERFORMANCE CHART OF THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN)

Source: FTSE Group, data as at 30 Sept 2019

38,000

40,000

42,000

44,000

46,000

48,000

50,000

52,000

54,000

56,000

58,000

60,000

62,000

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02 Nov 2018: CME Group Inc completes NEX Group plc acquisition

27 Jun 2019: Singapore Exchange (SGX) today announced a new organisation structure that capitalises on its strength as an international multi-asset exchange, to pursue growth opportunities and build scale in multiple asset classes.

11 Sep 2019: Hong Kong Exchanages and ClearingLimited (HKEX) today announced a possible offerfor London Stock Exchange Group plc for atotal enterprise value of approximately £31.6 billion

9 Apr 2019: DeutscheBörse to acquire Axiomafor USD850 million and combineit with its indexbusinesses(STOXX and DAX) valued at EUR 2.6billion into a new ompany

16 Oct 2018: The Commision issued a decision in a challenge to rule changes oftwo national securities exchanges, NYSEArca, Inc. and Nasdaq Stock Market LLC, concerning certain market data feesbut the challenges were remanded

28 Mar 2019: ZagrebStock Exchange was addedto the FTSE Mondo Visione

24 Dec 2018: Euronext hasapproached Oslo Børs VPS Holding ASA to seek its support for a €625m cashtender offer for all the outstanding shares of Oslo Børs VPS.

30 Jan 2019: Nasdaq AB announced today that it will make a public offer to acquire all of the issued shares of Oslo Børs VPS Holding ASA at NOK 152 per share

26 Feb 2019: ASX Limited(ASX) has entered into an underwriting agreementto sell its 18.6% shareholding inIRESS Limited(IRESS) (Sale). TheSale has been fully underwrittenat a fixed price of $11.95 per shareand is expected to realise gross proceeds of $385 million.

30 Apr 2019: Newclosing high

27 May 2019:Nasdaq AB, an indirect subsidiary of Nasdaq, Inc. (Nasdaq: NDAQ), has decided to withdraw its offer (the “Offer”) to acquire all of the issued shares of Oslo Børs VPS Holding

26 Jul 2019: Thomson Reuters (TSX/NYSE: TRI) confirms that it and private equity funds affiliated with Blackstone are in discussions related to a possible acquisition of Refinitiv by the London Stock Exchange Group plc (LSEG) for a total enterprise value of approximately US$27 billion.

05 Aug 2019: Intercontinental Exchange Announces Agreement To Acquire The Merrill Lynch Option Volatility Estimate (MOVE) Index From Bank Of America Merrill Lynch

31 May 2019:Euronext, the leading pan-European exchange, announces today that it has completed its confirmatory due diligence on Oslo Børs VPS and declares its offer

FTSE MONDO VISIONE EXCHANGES INDEX AND THE FTSE ALL-WORLD INDEX PERFORMANCE SINCE 17 AUGUST 2001 (USD CAPITAL RETURN)##########################

* FTSE All-World Index rebased to 5000 on 17 August 2001Source: FTSE Group, data as at 30 September 2019

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FTSE Mondo Visione Exchanges Index FTSE All-World Index*

1 YEAR CONSTITUENT PERFORMANCE (USD CAPITAL RETURN)

Source: FTSE Group and Thomson Datastream, data as at 30 September 2019

20.5

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1 YEAR EXCESS CAPITAL RETURNS AGAINST THE FTSE MONDO VISIONE EXCHANGES INDEX (USD CAPITAL RETURN)

Source: FTSE Group and Thomson Datastream, data as at 30 September 2019

-0.7

57.6

-29.3

-43.0-36.7

-41.3 -44.1

-1.5

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-27.8

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(“FTSE”) 2019. 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.