Regulation

Below are the rules of BATS Exchange, Inc. (“BZX”), including the BATS Exchange, Inc. options market (“BATS Options”), BATS Y-Exchange, Inc. (“BYX”), EDGA Exchange, Inc. (“EDGA”), EDGX Exchange, Inc. (“EDGX”) (collectively, the “BATS Exchanges”). The SEC regulates the BATS Exchanges as national securities exchanges, and all four exchanges also have status as self-regulatory organizations (“SROs”).

Equities Rules: BZX Rules applicable to membership and trading on the BZX equities platform are contained in Chapters I – XV of the BZX Rulebook. BYX, EDGA and EDGX Rules applicable to membership and trading on the BYX, EDGA and EDGX equities platforms are contained in Chapters I – XV of the each exchange’s Rulebook.

Options Rules: The specific BZX Rules applicable to membership and trading on BATS Options are contained in Chapters XVI – XXIX of the BZX Rulebook, provided, however, that Chapters I – XV are applicable to BATS Options Members unless specific rules relating to options trading govern or the context otherwise requires.

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