UPDATE FROM TURQUOISE

To the Turquoise Community,

We're pleased to announce continuing progress from Turquoise, namely that we've today exceeded 5% market share in aggregate across the 310 stocks in our integrated market, which spans the most liquid stocks in 14 European countries. Note that this includes the closing auctions of the incumbent exchanges. By index, the numbers today looked like this:

In developing our young business we've had to confront a very difficult market environment, so we are especially grateful for your support in helping us reach these levels. To have done so ahead of our year-end forecast is, again, hats-off to you. We plan to continue to execute according to our motto that "peaks become averages become baselines", and we expect this will continue to improve Turquoise's standing as your marketplace of choice.

We're pleased also to note having achieved record volumes in the Turquoise dark market. As cross rates continue to rise, we'll keep you posted on the value our members derive from the differentiated functionality in this part of our market.

We hope you enjoy this good news going into the weekend, and wish the best to you and yours,

Eli