Program Trading Report - NYSE

December 17 - December 21, 2012 PROGRAM TRADING PURCHASES AND SALES

Trading on NYSE (Average Daily - Millions)

Total Buy Programs Total Sell Programs Total CS2 Programs Total Programs

Total NYSE Volume*

Program Trading as % of Total NYSE Buy + Sell Volume

Current Week

391.0 377.8 159.3 928.1 2,095.2

44.3%

NYSE Program Trading - 20 Most Active Member Firms

(Millions of Shares)

DEUTSCHE BANK SECURITIES INC. MORGAN STANLEY & CO. LLC GOLDMAN, SACHS & CO. BARCLAYS CAPITAL INC. MERRILL LYNCH, PIERCE, FENNER & SMITH CREDIT SUISSE SECURITIES (USA) LLC LATOUR TRADING LLC SG AMERICAS SECURITIES, LLC J.P. MORGAN SECURITIES LLC SIG BROKERAGE, LP NOMURA SECURITIES INTERNATIONAL, INC. BNP PARIBAS SECURITIES CORP. RBC CAPITAL MARKETS, LLC INSTINET, LLC UBS SECURITIES LLC CITIGROUP GLOBAL MARKETS INC. ITG INC. INTERACTIVE BROKERS LLC SANFORD C. BERNSTEIN & CO., LLC CONVERGEX EXECUTION SOLUTIONS LLC

Index Non-Index Non-CS2 Arbitrage Arbitrage Total Principal Agency

Crossing Grand Session 2 Total

170.6 3.1 1.8 1.6 5.1 -

81.3 -

0.1 -

494.7 536.2 376.9 365.1 319.1 240.3 213.8 162.2 147.1 134.3

97.4 88.2

4.4 74.3 66.8 56.3 40.9 26.9 25.3 25.2

665.3 539.3 376.9 366.8 319.1 242.0 213.8 167.3 147.1 134.3

97.4 88.2 85.6 74.3 66.8 56.3 40.9 27.0 25.3 25.2

341.6 195.1 366.3 158.5 285.8 178.5 213.8 118.1

80.1 -

96.2 -

0.4 30.7 14.6

6.1 -

323.7 344.2

10.6 208.3

33.4 63.5

49.2 67.0 134.3

1.1 88.2 85.6 73.9 36.1 41.7 34.8 27.0 25.3 25.2

89.8 310.5 253.6 130.2

12.4 -

665.3 629.1 687.4 620.4 449.3 242.0 213.8 167.3 147.1 134.3

97.4 88.2 85.6 74.3 66.8 68.7 40.9 27.0 25.3 25.2

Total for 20 Member Firms Total for All Firms Reporting

% of Total

263.6 3,495.4 3,758.9 2,085.8 1,673.1 263.7 3,580.1 3,843.9 2,099.0 1,744.8

5.7% 77.2% 82.8% 45.2% 37.6%

796.5 4,555.4 796.5 4,640.3

17.2% 100.0%

+ Total NYSE volume is the sum of shares bought, sold and sold short on the NYSE, during regular NYSE trading hours, plus crossing session 2.

Totals may not sum exactly due to rounding.

(** See Appendix)

Note 1: NYSE program trading totals include purchases and sales during regular trading hours, plus crossing session 2. Note 2: Program Trading Totals in this report were compiled from member firms executed volume from NYSE's orders database.

NYSE Market Analytics & Planning December 2012

NYSE Euronext | 11 Wall Street New York, New York 10005

CONTACT | NYSE Euronext Media Relations 212.656.2065

nyseeuronextpressoffice@

Program Trading Averaged 44.3 Percent of NYSE Volume during Dec. 17-21

NEW YORK, Dec. 28, 2012 -- The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data compiled from member firms' executed volume from NYSE's orders database. The report includes trading on the NYSE for Dec. 17-21.

The data indicated that during Dec. 17-21, program trading amounted to 44.3 percent of NYSE average daily volume of 2,095.2 million shares1, or 928.1 million program shares traded per day. This included program trading associated with the December 21 quarterly expiration of stockindex options, futures and options on index futures.

Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks.

1 The NYSE calculates program trading as the sum of shares bought, sold and sold short in program trades. The total of these shares is divided by the sum of shares bought, sold and sold short on the NYSE including its crossing sessions. The data contained in this press release are owned by NYSE Euronext, its affiliated companies and other disseminating parties, as applicable, and are protected by U.S. and international copyright and other laws. NYSE Euronext grants the recipient of this press release the non-exclusive limited right to use, distribute or reproduce the data contained herein in connection with news reporting and related endeavors. Any other use of the data is expressly prohibited without the express written permission of NYSE Euronext.

APPENDIX

What is Program Trading?

Program trading is defined as a wide range of portfolio trading strategies involving the purchase or sale of 15 or more stocks. ? An example is index arbitrage. Index arbitrage is defined as the purchase or sale of a

basket of stocks in conjunction with the sale or purchase of a derivative product, such as index futures, in order to profit from the price difference between the basket and the derivative product. ? Other examples of program trading strategies are liquidation of facilitations, liquidation of EFP stock positions, and portfolio management, which includes portfolio realignment and portfolio liquidations. The NYSE's program trading statistics are aimed at assessing the impact of these transactions on the normal functioning of the market. Daily program trading activity is calculated as the sum of the shares bought, sold, and sold short in program trades. The total of these shares divided by the sum of shares bought, sold and sold short on the NYSE including its crossing sessions, then provides a percentage, which illustrates the relative importance of program trading during the period in question.

NYSE Market Analytics & Planning December 2012

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