Average Roundtrip External Latency By Venue (November 2007)

Source: Instinet Europe Exchange Linkages gateway internal system performance measurement statistics for average DMA order messaging on November 2007. These Instinet internal figures are for round trip latency message acknowledgement based on sending an average number of messages to the exchange system and obtaining a response back to Instinet's system over the course of a normal trading day.

Please note: These figures are provided for illustrative purposes only and are not intended to represent an independent performance measure of latency.

*Third party network vendor connectivity with additional latency improvement possible through Co-location and leased line connectivity.