BATS Exchange, Inc. received approval on August 18, 2008, from the U.S. Securities and Exchange Commission ("SEC") to operate as a registered national securities exchange. BATS Exchange commenced operations as a national securities exchange on October 24, 2008, and completed its transition from the operation of an ECN on November 6, 2008. BATS Exchange received approval to operate an options market (“BATS Options”), on February 26, 2010.

BATS Y - Exchange, Inc. ("BYX", together with BATS Exchange, generally referred to as “BATS”) received approval on August 13, 2010, from the SEC to operate as a registered national securities exchange. BYX has not yet commenced operations as a national securities exchange.

The SEC regulates BATS Exchange and BYX as national securities exchanges, and both exchanges also have status as self-regulatory organizations ("SROs"). BATS takes its responsibilities as an SRO very seriously and will continue to work to maintain the integrity of the BATS marketplace.

Equities Rules: BATS Exchange Rules applicable to membership and trading on the BATS Exchange equities platform are contained in Chapters I – XV of the BATS Exchange Rulebook. BYX Rules applicable to membership and trading on the BYX equities platform are contained in Chapters I – XV of the BYX Rulebook.

Options Rules: The specific BATS Exchange Rules applicable to membership and trading on BATS Options are contained in Chapters XVI – XXIX of the BATS Exchange 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.