Disclaimer

The content and opinions contained in this forum are provided for informational purposes only. While they are based on information from public, trade, and statistical sources believed to be reliable, ITG does not make any representations as to their accuracy or completeness and they should not be relied upon as such. No guarantee or warranty is made as to the actual results that may be achieved or the reasonableness of the assumptions or the accuracy of any models or market data used by ITG in the preparation of these materials. These materials are not intended to be used for trading or investment purposes or as an offer to sell or the solicitation of an offer to buy any security or financial product. These materials do not provide any form of advice (investment, tax or legal). ITG is not a registered investment adviser and does not provide investment advice or recommendations to buy or sell securities, to hire any investment adviser or to pursue any investment or trading strategy. ITG does not assume any liability for any loss that may result from the reliance by any person on any information or opinions provided in this forum.

Any screen shots of ITG products provided in this forum represent examples of products available from ITG. They contain sample data and their functionality and appearance are subject to change without notice.

Statements by ITG directors, officers, and employees that are non-factual in nature constitute only current opinions, which are subject to change without notice. Officers and directors of ITG may have positions in securities of companies referred to herein, which they may buy, sell or otherwise trade in their sole discretion. Other postings reflect the thoughts, comments and opinions of each individual poster and do not necessarily represent the views of any other people or entities, including ITG or any of its clients. ITG is not responsible for any statements made by individuals posting comments to this forum.

These materials may contain forward-looking statements that reflect management’s expectations for the future. A variety of important factors could cause results to differ materially from such statements. These factors are noted throughout ITG’s most recent Annual Report, on its Form 10-K, and on its Form 10-Qs and include, but are not limited to, the actions of both current and potential new competitors, rapid changes in technology, fluctuations in market trading volumes, financial market volatility, changes in commission pricing, evolving industry regulations, errors or malfunctions in our systems or technology, cash flows into or redemptions from equity funds, effects of inflation, customer trading patterns, the success of our products and service offerings, our ability to continue to innovate and meet the demands of our customers for new or enhanced products, our ability to successfully integrate companies we have acquired, changes in tax policy or accounting rules, fluctuations in foreign exchange rates, as well as general economic, business, credit and financial market conditions, internationally or nationally, and adverse changes or volatility in interest rates.

Except for any press releases posted herein, these materials are highly confidential and are not to be copied, displayed or transmitted in any form without the prior written permission of ITG.

In the U.S., broker-dealer products and services are offered by ITG Inc., member FINRA, SIPC, except as follows. POSIT Alert is offered by POSIT Alert LLC, member FINRA, SIPC. ITG Matrix is offered by ITG Derivatives, LLC, member FINRA, SIPC. POSIT Marketplace accesses, among other destinations, the POSIT Now and POSIT Match ATSs.

In Canada, broker-dealer products and services are offered by ITG Canada Corp., member CIPF, Investment Industry Regulatory Organization of Canada (IIROC), except as follows. MATCH Now is offered by TriAct Canada Marketplace LP, member CIPF, IIROC.

In Europe, broker-dealer products and services are offered by Investment Technology Group Limited, registered in Ireland No. 283940 (“ITGL”) and/or Investment Technology Group Europe Limited, registered in Ireland No. 283939 (“ITGEL”). The registered office of ITGL and ITGEL is Georges Court, 54-62 Townsend Street, Dublin 2, Ireland. ITGL and ITGEL are authorised and regulated by the Irish Financial Regulator.

In Hong Kong, ITG Hong Kong Limited (ITGHK) is a Participating Organisation of the Hong Kong Stock Exchange, a licensed corporation of the Hong Kong Securities and Futures Commission and is authorised under the Hong Kong Securities and Futures Ordinance to provide dealing in securities and automated trading services (Licence Number AHD810). In Japan, ITG Japan Limited (ITGJ), is a registered broker with the Japanese Financial Supervisory Agency. In Australia, ITG Australia Limited [ACN 003 067 409] (ITGA is a Market Participant of the Australian Securities Exchange and is authorised under the Financial Services Law to provide financial services in Australia (AFS Licence Number 219582).

All of the foregoing entities are wholly-owned subsidiaries of Investment Technology Group, Inc.