These materials are for informational purposes only and are not intended to be used for trading or investment purposes. Options, futures and derivative strategies are not suitable for all investors and involve significant risks including liquidity risk, risk of loss of principal and losses exceeding the amount invested. No statement in this document should be construed as a recommendation to buy or sell a security or to engage in any particular option, future, derivative, or investment strategy. Additionally, transaction costs may be significant for strategies that call for multiple option or futures transactions such as spreads and straddles.

System availability, access, and speed may be affected by market conditions, outages, system performance issues, volume, or other factors unforeseen by ITG. No guarantee or warranty is made as to the reasonableness of the assumptions or the accuracy of the models or market data used by ITG or the actual results that may be achieved. These materials do not provide any form of advice (investment, tax or legal). Supporting documentation for any claims can be provided upon request. All functionality described herein is subject to change without notice.

To obtain a copy of the Options Disclosure Document please call ITG Derivatives at 312-334-8022 or go to http://www.optionsclearing.com/about/publications/character-risks.jsp

Please view our derivatives glossary for definitions of certain terms: http://www.itg.com/derivativesglossary/

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