Markets in Financial Instruments Directive (MiFID) (Europe)

• Best execution and execution policy
• Access different execution venues: brokers, exchanges, MTF, SI efficiently

Correlation Haircut (Europe and Asia correlation available, or across Domestic markets)

• In-House Risk Model factors correlation across contracts and exchanges on a real time basis
• Flexibility accommodates equity, fixed income, money markets, energies, commodities and other new markets

Instinet Chi-x Ltd. (“Chi-x”) (Europe)

• An FSA authorized securities firm providing trading access to approximately 7,500 pan-European Equities
• Fortis Clearing offers services as a Multilateral Clearing Facility and as a General Clearing Member