Dear BATS Chi-X Europe Participants,

Further to the previous BATS Chi-X Europe notice sent out this morning, please be advised that the changes below are on hold. Participants are advised not to make any changes in this regard until further notice. A new notice will be issued in due course re-confirming a new timeline and rollout schedule for these changes.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority

From: Trade Desk EU [mailto:tradedeskeu@batstrading.com]
Sent: 11 May 2012 10:32
To: Trade Desk EU
Subject: BATS Chi-X Europe Upcoming Changes to Reference Data Files

Dear BATS Chi-X Europe Participants,

Effective Friday 25th May 2012, BATS Chi-X Europe will make the following changes to the BXE and CXE Symbols Reference Data CSV files available at: http://www.batstrading.co.uk/support:

* Addition of a reuters_ric_primary column - this indicates the primary RIC for the instrument.

* Addition of a reuters_ric_bats column - this indicates the BXE or CXE RIC for the instrument.

* Addition of emcf_enabled, eccp_enabled, xclr_enabled and lchl_enabled CCP columns - these indicate whether the instrument is enabled for clearing through the applicable CCP.

It is recommended that anyone utilising the BATS Chi-X Europe Symbols Reference Data CSV files should confirm proper processing of the additional columns prior to the Production release on Friday 25th May 2012.

Testing will be available from Wednesday 16th May 2012 by means of the BATS Chi-X Europe UAT Reference Data files available at: http://certification.batstrading.co.uk/support/.

The updated Reference Data Specification is available at http://www.batstrading.co.uk/resources/participant_resources/BATS_Europe_Reference_Data-draft.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Chi-X Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Chi-X Europe Migration onto BATS Technology on Monday 30th April, 2012
Dear Participants,

BATS Chi-X Europe confirms that all migration work is now complete and the Chi-X Europe migration onto BATS Technology will proceed this Monday, 30th April 2012.

The new Chi-X Europe Production environment (CXE) will launch on Monday, as per the following schedule:

Go-Live Schedule Monday, 30th April 2012:

Time

Activity

04:00

Reference Data Files Available

06:30

Connectivity available to all CXE BOE, FIX, PITCH and DROP, GRP & SPIN ports

06:30

NOC & TradeDesk available for any connectivity issues

08:00

Start of Trading - Market Open

Contacts
Connectivity: NOCEurope@batstrading.com +44.207.012.8905
Application or Trading Queries: TradeDeskEurope@batstrading.com +44.207.012.8901

For any other questions, please contact your Account Manager.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Chi-X Europe Migration onto BATS Technology on Monday 30th April, 2012

Dear Participants,

BATS Chi-X Europe confirms that the Chi-X Europe migration will occur on Monday, 30th April 2012.

Go-Live Weekend Schedule (Thursday 26th - Monday 30th April 2012):
Note all times below are UK

* Thursday, 26th April at 16.00: Change Freeze - No new Production port requests will be processed after this time, until Monday 30th April, available for Tuesday 1st May.

* Thursday, 26th April at 17.50: The old Chi-X Europe Certification (UAT) environment will be shut down.

* Friday, 27th April at 17.50: The old Chi-X Europe Production environment will be shut down.

* Saturday, 28th April 2012 08.00 - 12.00: FIX and BOE application ports on the new Chi-X Europe (CXE) environment will be available for participants to conduct session logon and heartbeat tests.

* Saturday, 28th April 2012 at 13.00: Chi-X Europe Go-Live Communication #1. If all migration work has been successfully completed, then this will be the final weekend communication.

* Saturday, 28th April 2012 at 18.00: Chi-X Europe Go-Live Communication #2. In the unlikely event that there are migration difficulties, then a further notice will be issued to communicate either go or no-go for Monday, 30th April.

* Monday, 30th April 2012 at 06.30: Participants will be able to logon and establish application level connectivity to all CXE ports in the new environment.

* Tuesday, 1st May 2012 at 17:00: The old Chi-X Europe FTP server will be shut down.

Note that all TCP ports will be available for telnet network connectivity tests throughout the weekend and multicast feeds will heartbeat, this is the standard BATS Chi-X Europe configuration outside of trading hours.
In the event of any issues over the weekend, Participants will be kept informed via the normal email distribution channels as well as via the BATS Chi-X Europe Alerts webpage: http://www.batstrading.co.uk/alerts/.

Go-Live Schedule Monday, 30th April 2012:
Time

Activity

04:00

Reference Data Files Available

06:30

Connectivity available to all CXE BOE, FIX, PITCH and DROP, GRP & SPIN ports

06:30

NOC & TradeDesk available for any connectivity issues

08:00

Start of Trading - Market Open

Rollback Approach:
In the event of any unexpected issues, the following contingency plans will be invoked

Action

Irresolvable problems over Go-Live weekend.

Trading to continue on old technology platform on Monday. Expect this to be communicated by 18.00 on Saturday if so.

Post go-live site failure on Monday (or later).

Invoke Secondary Datacentre (LD3)

Post go-live software or other system problems on Monday.

Resolve if possible, if not, resume trading next day on the old technology platform.

Contacts
Connectivity: NOCEurope@batstrading.com +44.207.012.8905
Application or Trading Queries: TradeDeskEurope@batstrading.com +44.207.012.8901

For any other questions, please contact your Account Manager.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear Participants,

FINAL Dress Rehearsal - Saturday, 21st April 2012:
The final dress rehearsal for the Chi-X Europe migration onto BATS technology is 1 week away - to ensure readiness participants are strongly encouraged to establish and validate their connectivity to the new Production Chi-X Europe environment at LD4. Attendance is highly recommended as participants will have the opportunity to submit live orders and consume market data on the new platform. There will also be a test of failover to the disaster recovery environment. Participants should note the following:

* Ports Dashboard - Participants should now check that all logical port details are in order. Participants can confirm their primary and secondary data centre IPs, ports and sessionID information by utilising the Ports Dashboard view in the secure member area of the BATS Europe website.
* Logical Ports - Participants should contact the BATS Europe TradeDesk to confirm port requirements. Any additional order entry, market data or dropcopy ports must be requested by completing and returning the attached port order form.
* Change Freeze - Participants wishing to take part in the dress rehearsal must submit any outstanding requests for new ports by 16:00 UK time on Thursday 19th April. No new port requests will be processed on Friday 22nd April.
* New Dress Rehearsal Schedule of Activities - A revised schedule of activities including more market data load tests on the day has now been published to the Testing Guide, however the summarised schedule of activities is as below:

Time (UK time)

Activity

04:00

Reference Data Files Available

06:30

Connectivity available to all Chi-X Europe FIX, BOE, PITCH and DROP ports

07:00

NOC & TradeDesk available for any connectivity issues

07:30

Conference Bridge opens

08:00

Start of Trading

08:00 - 08:15

Light simulated load - 4800 events/second

08:15 - 08:30

Medium simulated load - 9600 events/second

08:30 - 08:35

Heavy simulated load - 57600 events/second

08:35 - 09:00

Self-directed testing

09:00 - 09:15

Light simulated load - 4800 events/second

09:15 - 09:30

Medium simulated load - 9600 events/second

09:30 - 09:35

Heavy simulated load - 57600 events/second

09:35 - 10:00

Self-directed testing

10:00 - 10:15

Light simulated load - 4800 events/second

10:15 - 10:30

Medium simulated load - 9600 events/second

10:30 - 10:35

Heavy simulated load - 57600 events/second

10:35 - 11:00

Self-directed testing

11:00 - 11:15

Light simulated load - 4800 events/second

11:15 - 11:30

Medium simulated load - 9600 events/second

11:30 - 11:35

Heavy simulated load - 57600 events/second

11:35 - 12:00

Self-directed testing

12:00 - 12:15

Light simulated load - 4800 events/second

12:15 - 12:30

Medium simulated load - 9600 events/second

12:30 - 12:35

Heavy simulated load - 57600 events/second

12:35 - 13:00

Self-directed testing

13:00

BATS Chi-X Europe staff invoke LD4 to LD3 Datacentre Failover

13:30

LD3 will be available for trading from 13:30

13:30 - 13:45

Light simulated load - 4800 events/second

13:45 - 14:00

Medium simulated load - 9600 events/second

14:00 - 14:05

Heavy simulated load - 57600 events/second

14:05 - 14:30

Self-directed testing

14:30 - 14:45

Light simulated load - 4800 events/second

14:45 - 15:00

Medium simulated load - 9600 events/second

15:00 - 15:05

Heavy simulated load - 57600 events/second

15:05 - 15:30

Self-directed testing

15:30 - 15:45

Light simulated load - 4800 events/second

15:45 - 16:00

Medium simulated load - 9600 events/second

16:00 - 16:05

Heavy simulated load - 57600 events/second

16:05 - 16:30

Self-directed testing

16:30

End of Trading - Conference Bridge closes

Key contacts on the day

* Any participants experiencing problems are advised to use the regular BATS Europe support contacts:

o Network Connectivity Queries: the BATS NOC (+44.207.012.8905, NOCEurope@batstrading.com).

o Application or Trading Queries: the BATS TradeDesk (+44.207.012.8901, TradeDeskEurope@batstrading.com).

* These regular support numbers will be available from 0700 through 1630 UK time.

Conference Bridge

* There will be an open conference bridge used by BATS Chi-X Europe staff to disseminate regular progress updates on the schedule of activities for each dress rehearsal.

* The Dress Rehearsal conference bridge will be open for participants to join from 07:30 UK time and will shut down at 16:30 UK time:

o UK Call-in Number: +44-844-800-2845 or +0800-389-1681

o US Call-in Number: +1-866-563-6057 or +1-718-354-1291

o Participant Passcode: 97323527#

Contact Details
Connectivity:

NOCEurope@batstrading.com +44.207.012.8905

Application or Trading Queries:

TradeDeskEurope@batstrading.com +44.207.012.8901

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the BATS Europe Trade Desk or your Account Manager if you have any questions.

Trade Desk
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear BATS Chi-X Europe Participants,

Below is important information on the harmonisation of trading functionality and behaviour between BATS Europe and Chi-X Europe (together "BATS Chi-X Europe"), in preparation for the migration to an integrated technology platform on 30th April 2012.

Details of upcoming changes for either the BATS Europe (BXE) or Chi-X Europe (CXE) order books are outlined below.

Unless otherwise stated, these changes are available for testing with immediate effect in the Certification (UAT) environment, and from Monday 16th April 2012 in Production:

· Pegged Orders during Primary Exchange Suspensions (BXE only)

o BXE will not normally suspend trading in any instrument which is subject to any non-regulatory suspensions, such as a volatility halt on the Primary Exchange. However, certain order types, such as orders pegged to the market of listing, will not be available. During these suspensions, pegged orders will be impacted as follows: Any existing pegged orders will remain on the order book, new orders may be submitted but will immediately enter a held status, and participants will be able to cancel or amend their open orders. This order behaviour will impact both pegged orders in the Integrated Book, and Dark Book orders. As all orders in the Dark Book are pegged, these orders will always be impacted during non-regulatory suspensions.

· Visible Pegged Orders (BXE only)

o Visible Primary and Market pegged orders will now be supported on the BXE Integrated Order Book. DisplayIndicator (tag 9479)=X must be used to flag the orders as Visible.

* TradeLiquidityIndicator flag [tag 9730] (BXE only)

o A value of RT - "Removed Liquidity from the BATS Dark Pool by IOC order" will now be possible on executions received from BXE. For Binary Order Entry (BOE) sessions, a SubLiquidityIndicator field value of T will now be present. Please refer to the FIX and/or BOE specifications for further information.

· Unitised (On Demand) TCP Pitch (BXE and CXE)

o BATS Chi-X Europe will implement the following Unitised TCP Pitch feed scheme:

§ UK & Ireland

§ Euronext

§ Germany

§ Italy, Spain & Switzerland

§ Nordics
This change has no impact on the full composite TCP Pitch feed.
These changes will be made available in the Certification (UAT) environments Wednesday 4th April, and in BXE Production from Monday 16th April 2012, and CXE Production upon migration to BATS technology on Monday 30th April 2012.

Technical Integration webpage: http://www.batstrading.co.uk/integration/technical/

Technical Specifications

Market Data Migration Guide:

This document describes the differences between the market data delivery capabilities of BXE and CXE and changes that Participants will be required to make.

FIX Migration Guide:

This document describes the differences between the FIX order entry capabilities of BXE and CXE and changes that Participants will be required to make.

FIX Specification:

BATS Chi-X Europe FIX specification.

BOE Specification:

BATS Chi-X Europe Binary Order Entry specification.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Trade Desk, BATS Europe
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear Participants,

Key Update:

* Additional Failover Testing Opportunities - BATS Chi-X Europe will be conducting additional data centre failover tests for the new Chi-X Europe PRODUCTION environment from LD4 to LD3. These tests will occur once a week every Wednesday starting from Wednesday 21st March and ending on Wednesday 25th April. The weekly tests will commence at 13:00 UK time and complete no later than 14:00 UK time on those testing Wednesdays.

Dress Rehearsal #1 - Saturday, 24th March 2012:
The first dress rehearsal is 1 week away - to ensure readiness participants are strongly encouraged to continue establishing and validating their connectivity to the new Production Chi-X Europe environment at LD4. Attendance is highly recommended as participants will have the opportunity to submit live orders and consume market data on the new platform. There will also be a test of failover to the disaster recovery environment. Participants should note the following:

* Ports Dashboard - Participants should now check that all logical port details are in order. Participants can confirm their primary and secondary data centre IPs, ports and session ID information by utilising the Ports Dashboard view in the secure member area of the BATS Europe website.
* Logical Ports - Participants should contact the BATS Europe TradeDesk to confirm port requirements. Any additional order entry, market data or dropcopy ports must be requested by completing and returning the attached port order form.
* Change Freeze - Participants wishing to take part in the dress rehearsal must submit any outstanding requests for new ports by 16:00 UK time on Thursday 22nd March. No new port requests will be processed on Friday 23rd March.
* Dress Rehearsal Schedule of Activities - The full detail can be found in the Testing Guide, however the summarised schedule of activities for both participants and vendors is as below:

Time (UK time)

Activity

04:00

Reference Data Files Available

06:30

Connectivity available to all Chi-X Europe FIX, BOE, PITCH and DROP ports

07:00

NOC & TradeDesk available for any connectivity issues

07:30

Conference Bridge opens

08:00

Start of Trading

08:30 - 09:00

Light simulated load - 4800 events/second

09:00 - 09:30

Medium simulated load - 9600 events/second

09:30 - 09:45

Heavy simulated load - 57600 events/second

09:45 - 10:00

Self-directed testing

10:00 - 10:30

Light simulated load - 4800 events/second

10:30 - 11:00

Medium simulated load - 9600 events/second

11:00 - 11:15

Heavy simulated load - 57600 events/second

11:15 - 13:00

Self-directed testing

13:00

BATS Chi-X Europe staff invoke LD4 to LD3 Datacentre Failover

13:00 - 14:00

LD3 will be available for trading no later than 14:00

14:00 - 14:30

Light simulated load - 4800 events/second

14:30 - 15:00

Medium simulated load - 9600 events/second

15:00 - 15:15

Heavy simulated load - 57600 events/second

15:15 - 16:30

Self-directed testing

16:30

End of Trading - Conference Bridge closes

Key contacts on the day

* Any participants experiencing problems are advised to use the regular BATS Europe support contacts:

o Network Connectivity Queries: the BATS NOC (+44.207.012.8905, NOCEurope@batstrading.com).

o Application or Trading Queries: the BATS TradeDesk (+44.207.012.8901, TradeDeskEurope@batstrading.com).

* These regular support numbers will be available from 0700 through 1630 UK time.

Conference Bridge

* There will be an open conference bridge used by BATS Chi-X Europe staff to disseminate regular progress updates on the schedule of activities for each dress rehearsal.

* The Dress Rehearsal conference bridge will be open for participants to join from 07:30 UK time and will shut down at 16:30 UK time:

o UK Call-in Number: +44-844-800-2845 or +0800-389-1681

o US Call-in Number: +1-866-563-6057 or +1-718-354-1291

o Participant Passcode: 97323527#

Contact Details
Connectivity:

NOCEurope@batstrading.com +44.207.012.8905

Application or Trading Queries:

TradeDeskEurope@batstrading.com +44.207.012.8901

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the BATS Europe Trade Desk or your Account Manager if you have any questions.

Trade Desk, BATS Europe
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear Participants,

This notice provides important information regarding changes to BATS Europe and to Chi-X Europe reference data (Symbols & Tick Table files) as a result of the upcoming migration of the Chi-X Europe order books onto BATS technology.

To explain the upcoming changes, BATS Chi-X Europe has produced a Reference Data Migration Guide: http://www.batstrading.co.uk/resources/participant_resources/BATS_ChiX_Reference_Data_Migration.pdf.

This document contains all the upcoming Reference Data changes for both participants of BATS Europe and of Chi-X Europe in the coming weeks. Any questions can be referred to the BATS Europe Trade Desk.

Technical Integration webpage: http://www.batstrading.co.uk/integration/technical/

Summary of Connectivity Information, Technical Specifications & Testing Guides

Connectivity

Migration Guide:

This document provides the additional information required to migrate existing Chi-X Europe connectivity to the new Chi-X Europe platform on BATS Europe technology. It is a supplement to the BATS Europe Connectivity Manual.

Connectivity Pricing:

Physical and logical connectivity pricing for Trading Participants and Non-Trading Participants.

Technical Specifications

Market Data Migration Guide:

This document describes the differences between the market data delivery capabilities of BATS Europe and Chi-X Europe and changes that Participants will be required to make.

FIX Migration Guide:

This document describes the differences between the FIX order entry capabilities of BATS Europe and Chi-X Europe and changes that Participants will be required to make.

Chi-X Europe FIX Compatibility Mode Guide:

BATS Europe offers a special FIX compatibility mode, described in this document, to ease the transition for Participants with existing Chi-X Europe compatible software.

Testing Guide:

Detail on testing requirements and facilities as well as Production Dress Rehearsal activities.

Disaster Recovery Guide:

This document describes how the disaster recovery site at Equinix Park Royal (LD3) will function in the event of a data centre failover invocation by BATS Chi-X Europe.

Web Migration Guide:

This document describes the changes that will be happening to BATS Europe and Chi-X Europe websites.

Reference Data Migration Guide:

This document describes the changes to market reference data that will occur due to the upcoming migration of the Chi-X Europe platform to BATS technology.

Technical Contacts for the migration

Connectivity:

NOCEurope@batstrading.com +44.207.012.8905

Application or Trading Queries:

TradeDeskEurope@batstrading.com +44.207.012.8901

Please continue to contact the Chi-X Europe Operations team with any technical questions regarding daily service and support on the existing Chi-X Europe trading platform.

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the BATS Europe Trade Desk or your Account Manager if you have any questions.

Trade Desk, BATS Europe
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority.
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear Participants,

BATS Europe would like to advise its Data Recipients of a new "Market Data" page available on the BATS Chi-X Europe Integration site at the following link http://www.batstrading.co.uk/integration/market_data/

The page outlines key information related to the migration of Chi-X Europe onto BATS Europe technology including Market data pricing effective post migration.

In summary, the market data policies of Chi-X Europe will be adopted by BATS Chi-X Europe effective upon integration. Any Data Vendors currently taking only BATS Europe data (and not a current Chi-X Europe licensee of data) would be liable for a pro-rated 2012 distribution licence upon migration. This licence fee will include the right to distribute data from the Chi-X Europe order-books.

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the or your BATS Europe Account Manager if you have any questions.

Trade Desk, BATS Europe
BATS Chi-X Europe ... Making Markets Better
P: +44.207.012.8901
E: TradeDeskEU@batstrading.com
www.batstrading.co.uk
* BATS Trading Limited is authorised and regulated by the Financial Services Authority
BATS Trading Limited is authorised and regulated by the Financial Services Authority. BATS Trading Limited is an indirect wholly-owned subsidiary of BATS Global Markets, Inc. and is a company registered in England and Wales with Company Number 6547680 and registered office at 10 Lower Thames Street, London EC3R 6AF. Confidentiality Notice: This email, including attachments, may include non-public, proprietary, confidential or legally privileged information. If you are not an intended recipient or an authorized agent of an intended recipient, you are hereby notified that any dissemination, distribution or copying of the information contained in or transmitted with this e-mail is unauthorized and strictly prohibited. If you have received this email in error, please notify the sender by replying to this message and permanently delete this e-mail, its attachments, and any copies of it immediately - you should not retain, copy or use this e-mail or any attachment for any purpose, nor disclose all or any part of the contents to any other person. Thank you.

Dear Participants,

BATS Chi-X Europe would like to update Participants on the following Post-trade changes that will be taking place as a result of the upcoming platform migration.

Integration Overview

An overview of the post-trade changes is available on the following link and will be updated periodically. http://www.batstrading.co.uk/integration/post_trade/

UK and Irish Settlement netting

From the 30th April, BATS Chi-X Europe intends to offer Participants trading on both order books (BXE and CXE) the option to net their UK and Irish settlement obligations into one settlement instruction (per ISIN) at Euroclear UK and Ireland, or continue to keep their settlements segregated as is currently the case (subject to FSA, HMRC and IRC conditions being met).

In order to allow cross-order book netting, BATS Chi-X Europe will be contacting a number of Trading Participants who have UK SDRT Intermediary relief on one market but not the other, or who have relief on both markets but under different Crest codes. It is important that Trading Participants have consistent Intermediary relief; otherwise cross-order book netting will not be permitted. BATS Chi-X Europe is in discussion with the Irish Revenue Commission (IRC) and will advise Participants if any further action is required.

Trading Participants wishing to cross-order book net UK and Irish settlements should contact their Clearing Participant who will be advised by their Central Counterparty (CCP) of how to achieve this. Settlement netting in all other markets is unaffected as a result of the integration.

CCP Static data and Clearing Authority

Post the legal and technical migration (30th April 2012), Trading Participants who currently have access to a market segment (UK, France etc.) will have access to these market segments on both the BXE and CXE order books. To ensure this consistent approach, BATS Chi-X Europe are working with their CCPs to update the clearing authorities for Trading Participants and are taking the following approach:

Scenario

Trading Participant Status

Action

1

Trading Participant is currently a member of the BATS Europe and Chi-X Europe platforms and has identical access on both platforms.

No action required. CCP will apply existing clearing authority on both order books.

2

Trading Participant is currently a member of the BATS Europe and Chi-X Europe platforms but has different market segment access or different clearing arrangements across the two platforms.

Clearing members will be contacted by their CCP(s) to complete a clearing authority and SSIs to ensure consistent market access on both order books.

3

Trading Participant is a member of one platform but not the other.

Clearing members will be contacted by their CCP(s) to complete a clearing authority and SSIs to ensure consistent market access on both order books.

New clearing authorities will only come into force on the migration date, unless agreed otherwise with CCPs.

The updated Symbol Reference Data File will be available on our website at http://www.batstrading.co.uk/support/.
Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Dear BATS Chi-X Europe Participants,

Effective immediately, BATS Chi-X Europe has made the following changes to the Symbol Reference Data and Tick Reference Data file URL locations for the BATS and Chi-X books running on BATS technology.

BATS format

BATS book in BATS format (now and until 16th of March, 2012):
Symbol Reference data file URL: http://batstrading.co.uk/market_data/symbol_listing/csv/ --> BATSSymbols-PROD.csv
Tick Reference data file URL: http://batstrading.co.uk/market_data/symbol_listing/tickcsv/ --> BATSTicks-PROD.csv

BATS book in BATS format (from 16th of March, 2012):
Symbol Reference data file URL: http://batstrading.co.uk/bxe/market_data/symbol_listing/csv/ --> BXESymbols-PROD.csv
Tick Reference data file URL: http://batstrading.co.uk/bxe/market_data/symbol_listing/tickcsv/ --> BXETicks-PROD.csv

Chi-X book on BATS technology in BATS format (after the migration date):
Symbol Reference data file URL: http://batstrading.co.uk/cxe/market_data/symbol_listing/csv/ --> CXESymbols-PROD.csv
Tick Reference data file URL: http://batstrading.co.uk/cxe/market_data/symbol_listing/tickcsv/ --> CXETicks-PROD.csv

Chi-X format

BATS book in Chi-X format (now and until the 16th of March, 2012):
Symbol Reference data file URL: http://batstrading.co.uk/market_data/symbol_listing/csv/chix/ --> CHIXTSL.txt
Tick Reference data file URL: http://batstrading.co.uk/market_data/symbol_listing/tickcsv/chix/ --> CHIXDTT.txt

BATS book in Chi-X format (from 16th of March, 2012):
Symbol Reference data file URL: http://batstrading.co.uk/bxe/market_data/symbol_listing/csv/chix/ --> CXESymbols-PROD.csv
Tick Reference data file URL: http://batstrading.co.uk/bxe/market_data/symbol_listing/tickcsv/chix/ --> CXETicks-PROD.csv

Chi-X book on Chi-X technology (until the migration date):
Symbol Reference data file URL: http://www.chi-xeurope.com/CHIXTSL.txt OR http://www.batstrading.co.uk/CHIXTSL.txt
Tick Reference data file URL: http://www.chi-xeurope.com/CHIXDTT.txt OR http://www.batstrading.co.uk/CHIXDTT.txt

Chi-X book on BATS technology in Chi-X format (after the migration date):
Symbol Reference data file URL: http://batstrading.co.uk/cxe/market_data/symbol_listing/csv/chix/ --> CHIXTSL.txt
Tick Reference data file URL: http://batstrading.co.uk/cxe/market_data/symbol_listing/tickcsv/chix/ --> CHIXDTT.txt

It is recommended that anyone using the old URLs for the BATS book make relevant changes before the 16th of March, 2012, at which point the old URLs will redirect to the new URLs.

The new URLs are accessible with immediate effect.

For additional information on upcoming changes to reference data URLs and other web-based services provided by BATS Chi-X Europe, please refer to: http://www.batstrading.co.uk/resources/participant_resources/BATS_Europe_ChiX_Website_Migration.pdf

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Dear BATS Europe Participants

BATS Europe periodically reviews the unit distribution of tradable markets to ensure BATS Europe market data is spread evenly.
To this end and as part of the planned Chi-X Europe migration announced recently, BATS Europe will migrate all Austrian instruments from Unit 12 onto Unit 8. This change will be effective in BATS Europe Production from Monday 27th February 2012.

Specifically, this will impact Participants who:

o receive Primary and Secondary Multicast Gig and WAN-shaped Production feeds

o receive on-demand (unitised) TCP PITCH feeds. Austrian (WBAH) market data will be moved to the current Xetra (XETR) feed.

o use BATS Binary Order Entry (BOE). Austrian BOE messages will be created from matching unit 8.

There is no impact to Participants currently receiving the BATS Europe TCP PITCH market data feed.

For information on this new distribution please refer to the BATS Europe Multicast PITCH Specification.

This change will be available in the BATS Europe Certification environment effective Monday 6th February, 2012.

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical BATS Europe notices, including universe updates, are available online at www.batstrading.co.uk/alerts.

Dear Participants,

This is part of a series of communications highlighting key integration dates and materials surrounding the upcoming platform migration of the Chi-X Europe order books onto BATS Europe technology. The purpose of this communication is to provide details on the updated Technical Specifications, Testing Guide and Connectivity Guide for the migration.

The revised Connectivity Pricing is also linked below. It includes separate pricing for Trading Participants and Non-Trading Participants and will be effective 1st May 2012 unless otherwise stated.

Key Technology Milestones

Date

Connectivity Information, Technical Specifications & Testing Guides

Technical Integration webpage: www.batstrading.co.uk/integration/technical/

* Connectivity

o Migration Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Connectivity_Manual_Integration_Supplement.pdf

o Connectivity Pricing: www.batstrading.co.uk/resources/participant_resources/BATSEuro_ConnPricing.pdf

* Technical Specifications

o Market Data Migration Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Europe_ChiX_Market_Data_Migration_Guide.pdf

o Chi-X Europe FIX Compatibility mode Guide: www.batstrading.co.uk/resources/participant_resources/BATS_Europe_ChiX_FIX_Compatibility_Mode_Guide.pdf

o Testing Guide: www.batstrading.co.uk/resources/participant_resources/TestingGuide.pdf

* Technical Contacts for the migration

Connectivity: NOCeurope@batstrading.com+44.207.012.8905
Application or Trading Queries: TradeDeskEurope@batstrading.com +44.207.012.8901

Please continue to contact the Chi-X Europe Operations team with any technical questions regarding daily service and support on the existing Chi-X Europe trading platform.

The latest migration information and documents are available at www.batstrading.co.uk/integration, which will be updated regularly throughout the transition.

Please contact the BATS Europe Trade Desk or your Account Manager if you have any questions.