Monthly Statistics – May 2015 1. Volume Snapshot Hotspot posted an average daily volume (ADV) of $26.8B in May 2015, off 5.9% from April 2015. This represented a 3.4% increase over May 2014. Hotspot’s market share among publicly reporting spot FX venues slipped to 11.5%, versus 11.7% in the previous month. Hotspot’s ADV during the past twelve months stands at $30.1B, a 1.3% increase over the prior twelve month period. May 2015 Statistics (Single-Count, USD): Hotspot posted an ADV of $26.8 billion (based on 21 trading days). ADV decreased 5.9% versus April 2015 (April 2015 ADV: $28.4 billion). ADV increased 3.4% versus May 2014 (May 2014 ADV: $25.9 billion). Total Volume: $561.9 billion Monthly Statistics (in $Billions): USD Value Traded $561.9 $569.2 $625.4 May 2015 May 2014 April 2015 Average Daily Volume (ADV) $26.8 $25.9 $28.4 12-Month Moving Average (in $Billions): 12 Months Ending May 2015 % Change from Prior 12 Months Hotspot $30.1 +1.3% EBS $103.3 +23.5% Reuters/FXall $119.6 +0.7% Overall Market* $253.0 +9.0% 2. Market Trends Hotspot Market Share* May 2015 Apr 2015 May 2014 11.5% 11.7% 12.8% 12 Month Avg. 11.9% Hotspot’s ADV percentage changes compared to other reporting venues: % Change in ADV Hotspot EBS May 2015 vs. Apr 2015 -5.9% -1.0% May 2015 vs. May 2014 +3.4% +30.5% Reuters/FXall Overall Market* CME Futures -6.3% -4.1% +4.6% +6.6% +14.9% +45.3% Hotspot, May 2015 % Change in Volume vs Dec 2012 FX Volume Trends: Dec 2012 Baseline 100% 75% 50% 25% 0% -25% -50% Hotspot CME EBS Reuters / FXall Hotspot FX Volume & Market Share 2009 - End May 2015 ADV in $Billions (Single-Count) $32 15% $28 13% $24 11% $20 9% $16 7% $12 $8 5% 2009 2010 2011 Hotspot ADV 2012 2013 2014 2015 Hotspot Mkt Shr (HS, EBS, Reuters) Sources: Hotspot, CME Group, EBS/ICAP, Reuters/FXall 3. Volume Breakdown Trading activity in the European session rose 1.4% versus the prior month in May 2015 while Asia saw a 0.5% increase. Volume during the Americas session declined by 1.9%. Volume Percentage May 2015 Volume Percentage April 2015 Asia 14.6% 14.1% Europe 45.2% 43.8% Americas 40.2% 42.1% Hotspot, May 2015 Volume Breakdown Hotspot Hourly Volume Volume by Hour 14.00% 12.00% Hour (EST) May-15 Apr-15 5pm 0.32% 0.21% 6pm 0.92% 0.86% 7pm 1.04% 1.04% 8pm 2.60% 2.84% 4.00% 9pm 2.46% 2.31% 2.00% 10pm 1.86% 1.71% 0.00% 11pm 1.44% 1.25% 12am 1.71% 1.77% 1am 2.23% 2.08% 2am 5.58% 4.52% 3am 7.42% 6.93% 4am 6.37% 6.56% 5am 5.41% 5.36% 6am 5.12% 5.08% 7am 5.10% 5.21% 8am 10.21% 10.18% 9am 9.78% 9.59% 10am 10.94% 10.94% 11am 7.39% 7.54% 12pm 3.50% 3.83% 1pm 2.70% 3.33% 2pm 2.94% 3.45% 3pm 1.82% 2.15% 4pm 1.13% 1.26% Grand Total 100% 100% % of Volume 10.00% 8.00% 6.00% Hour (EST) Apr-15 May-15 Hotspot, May 2015 The Top Five currency pairs by volume percentage were: Currency Pair EUR/USD USD/JPY Percentage 30.1% 15.7% Currency Pair EUR/USD EUR/USD Total USD/JPY USD/JPY Total GBP/USD GBP/USD Total AUD/USD AUD/USD Total USD/CAD USD/CAD Total EUR/GBP EUR/GBP Total NZD/USD NZD/USD Total EUR/JPY EUR/JPY Total USD/CHF USD/CHF Total USD/MXN USD/MXN Total Time Zone Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US May-15 3.16% 14.79% 12.12% 30.07% 3.68% 6.15% 5.87% 15.70% 1.13% 5.98% 5.01% 12.11% 2.67% 3.23% 2.71% 8.60% 0.50% 2.16% 3.66% 6.32% 0.30% 2.34% 1.38% 4.02% 1.28% 1.31% 1.36% 3.95% 0.42% 1.46% 1.08% 2.95% 0.20% 1.19% 1.25% 2.64% 0.04% 0.64% 1.85% 2.53% Apr-15 2.97% 14.93% 13.53% 31.42% 3.99% 5.83% 5.81% 15.63% 0.89% 5.21% 4.71% 10.82% 2.85% 3.41% 3.18% 9.44% 0.54% 2.47% 4.31% 7.31% 0.10% 1.84% 1.07% 3.02% 0.93% 1.29% 1.15% 3.37% 0.40% 1.72% 1.28% 3.40% 0.20% 1.21% 1.35% 2.75% 0.03% 0.71% 2.01% 2.75% GBP/USD 12.1% Currency Pair EUR/SEK EUR/SEK Total EUR/CHF EUR/CHF Total USD/SGD USD/SGD Total EUR/NOK EUR/NOK Total USD/ZAR USD/ZAR Total USD/SEK USD/SEK Total NOK/SEK NOK/SEK Total EUR/AUD EUR/AUD Total AUD/JPY AUD/JPY Total USD/TRY USD/TRY Total AUD/USD 8.6% Time Zone Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US Asia Europe US May-15 0.04% 1.02% 0.50% 1.56% 0.11% 0.58% 0.48% 1.17% 0.33% 0.51% 0.33% 1.17% 0.04% 0.72% 0.34% 1.11% 0.02% 0.43% 0.34% 0.79% 0.01% 0.29% 0.19% 0.49% 0.00% 0.28% 0.21% 0.49% 0.13% 0.21% 0.13% 0.47% 0.14% 0.19% 0.12% 0.45% 0.02% 0.22% 0.17% 0.40% USD/CAD 6.3% Apr-15 0.03% 0.79% 0.46% 1.28% 0.06% 0.56% 0.46% 1.08% 0.34% 0.48% 0.34% 1.16% 0.03% 0.54% 0.30% 0.87% 0.02% 0.35% 0.31% 0.68% 0.01% 0.19% 0.14% 0.34% 0.00% 0.23% 0.12% 0.35% 0.12% 0.19% 0.13% 0.43% 0.17% 0.21% 0.14% 0.52% 0.02% 0.21% 0.17% 0.40% EST: Asia: 5pm-2am Europe: 2am-9am US: 9am-5pm Hotspot, May 2015 Notes: Hotspot daily, monthly, and quarterly volumes are posted on: http://hotspotfx.com/products/hotspot_volumes.jsp Hotspot volumes represent the notional value in U.S. dollars of all trades executed on the platform, counting one side of the transaction. All comparative volume data has been normalized to account for different counting methodologies. Average Daily Volume (ADV) reported by each platform may not be based on the same number of trading days for a given month due to observed national or bank holidays unique to a given platform. Hotspot counts each day that the platform is open as a valid trading day. *Market Share represents Hotspot volume divided by the total volume of publicly reporting spot FX venues (Hotspot, EBS, & Reuters/FXall). Hotspot, May 2015